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NTAP second target hit

NTAP has hit the bottom of the T2 (second target) zone for a 20.5% gain from entry.  as this was the final target on the trade, consider booking full profits.  i am officially moving this trade to the completed trades category now as there is positive divergence in place on the daily time frame although my belief is that those divergences will not play out (yet) and that NTAP will likely drop to one or both of these support levels shown on the weekly chart below (last chart).  therefore, one could lower their stops here if shooting for additional gains on [...]

2012-10-24T10:29:08+00:00Oct 24, 2012 10:29am|Categories: Completed Trades - Short|Tags: |Comments Off on NTAP second target hit

NTAP first target hit

NTAP has hit the first target (T1) for an 11.2% gain from the entry last week. consider booking partial or full profits and/or lowering your stops.  i favor T2 over time on this trade & might even add additional targets once/if prices break below T1.  however, i do think the odds of a bounce and/or consolidation is likely first.

2017-03-08T21:22:05+00:00Oct 3, 2012 11:11am|Categories: Completed Trades - Short|Tags: |Comments Off on NTAP first target hit

shorting NTAP

NTAP looks like an objective short entry here at 35.29 as it is breaking below this daily rising wedge.  NTAP, which is clearly in a downtrend as shown by the descending channel on this weekly chart,  has most likely completed an over-extended counter-trend bounce which was stopped cold by the 200-day ema (40-week ema), which has acted as decent support & resistance on this stock in the past.  targets marked on the daily chart below with T1 at 31.30 & T2 at 28.15.  an objective stop for most swing traders would be on a decent move (2-4%) above the 200ema.

2012-10-12T12:11:49+00:00Sep 24, 2012 12:47pm|Categories: Completed Trades - Short|Tags: |Comments Off on shorting NTAP