Monday, November 18, 2013

Ezra - Buy Setup follow up

If you have followed our previous post correctly, you should not have entered on Ezra as the Entry price was not triggered.

With the Rise on last Friday, many people could be pondering what is going on now? The likelihood should be Big boys are re entering the market after sell off. Does your Strategy (i know not many people have strategy) have a Re entry setup? Meaning after you sell off, when do you buy back if it is still good?

We see if Ezra price is above 10SMA = Still good, Price Up on Friday means this stock is stronger that the rest of the stock that dont move, hence with the positive market sentiment an uptrend continuation trend is possible for Ezra.

Setup looks like this:
Entry $1.33 on Monday Morning
Initial Stoploss = 1.265
If price rally use 10Sma as a trailing stop indicator. If price CLOSE below 10sma (end of day), we will sell on next trading day.