UAL Landed Near 52-Week Lows and Is Ready for Summer Flight
Updated
Trigger at 45.84 with stop at 43.62. Target is at the 55.35 which is the 200SMA
44.00 is starting to become a new support level for UAL. I think the stock will retest this support one more time before take off. If it holds it will be a confirmed support and I will look to add to my position.
Setup has a reward:risk ratio of:
4:1 to the 200SMA
6:1 to the Resistance line
44.00 is starting to become a new support level for UAL. I think the stock will retest this support one more time before take off. If it holds it will be a confirmed support and I will look to add to my position.
Setup has a reward:risk ratio of:
4:1 to the 200SMA
6:1 to the Resistance line
Trade closed: stop reached
This trade was profitable in the first couple days. I could have closed this trade aggressively when the trade failed to break the 10 ema and the upper wick formed a bearish candle on the 10 ema the next day.I will setup a new long position at 42.17 if UAL can test that level again...
Lose small, win big
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