AMSC will be removed from the Active Trades category, after breaking out and running up for a 12% gain, it has drifted back below the entry level and thereby triggering a logical stop.
remember, this market continues to favor a quick, hit-n-run trading style, meaning that taking profits at the early targets vs. holding out for the higher swing targets is the preferred M.O. i also frequently mention the benefits of setting your sell limit orders slightly below your selected target area, as to assure a fill and that holds true more than ever in a nervous, choppy market like we've had for the last few weeks. here's the original and updated daily chart of the Active AMSC long trade. as you can see, the stock broke out shortly after the set-up was posted [...]
AMSC has been basing for while between the blue support & resistance lines on this daily chart. a break above the upper blue line (resistance) would trigger a long entry while i may revisit this one later for a possible short entry if rejected here and prices pull back to the bottom of the channel. however, i currently favor an upside resolution but i would wait until prices break resistance before entering long.