MANH (Manhattan Associates Inc) has hit the final target, T2 at 48.70. MANH was added as an Active Short trade on Dec 21st, going on to hit the first profit target for a 17% gain just 3 weeks later and hit the final target of 48.70 today for a gain of 29.2% in just over 6 weeks. Consider booking full profits or at least lowering stops of holding out for additional gains. The expected reaction when price reached the T1 level produced a nice bear flag continuation pattern, from which the current impulsive leg down to the T2 level [...]
The MAHN (Manhattan Associates Inc.) short trade has hit the first price target, T1 at 57.10, for a 17% gain in exactly 3 weeks from entry. Consider booking partial or full profits and/or lowering stops, depending on your trading plan. T2 (48.70) remains the final target. As the odds for a reaction off the T1 level are quite elevated, coupled with the fact that MANH has already fallen about half-way to the final target, it will remain an Active Trade but will be removed from the Short Trade Setups category as it no longer offers an objective entry at this point. [...]
MANH (Manhattan Associates Inc.) offers an objective short entry on this break below dual support (horizontal + trendline). T2 at 48.70 is the current final target with a suggested stop on a close above 75.00. Typically I'll only close out position in the last couple weeks of the year as trading volumes drop, resulting in increased whipsaw signals but in this case, I decided to take a starter position in MANH & might even extend the final target to the 41 area, should both MANH & the broad markets move lower in the coming weeks/months.