CoryMitchell-CMT
Long

Short-Term and Long-Term Buy in ENGH.TO

TSX:ENGH   ENGHOUSE SYSTEMS LIMITED
188 views
3
Not in this one yet. Wanted to see some strength come back into it after it fell to support. Will now look to get in on a pullback to around $52.

The technicals provide for a decent reward:risk trade even
if the price stays in this range. BUT, I like the growing earnings for this company, which opens up the possibility of a bigger run to the upside if they keep posting good numbers.

If we do break to the upside (out of this recent range) then I would like use a trailing stop loss instead of the second target. The second target is a just a guide for establishing a reward:risk ratio. If it starts to run, I will let it run, waiting for a close below the ATR Stops and then closing the trade if the price continues dropping after that.
Cory Mitchell, CMT
Stock trading insights at https://tradethatswing.com/
Daily forex trade ideas and educational articles at the https://www.thestreet.com/forex/

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