$2,700 Profit
ENDPLong Stock
This is a setup that I love. Over 3 days the stock dropped 30% and hit a new 52 week low of 27.45 I bought and averaged down knowing that A. It is not going to stay down at that low for a long time with all the shorts that sold it off over 3 days and that going into Friday Shorts want to cover for the weekend. An oversold looking chart and I got in close to bottom. Took half my profit on morning spike and I will watch for reversal to see if my second target will hit.
Date | Price | |
---|---|---|
Entry | 3/17/2016 | 28.24 |
Exit | 3/18/2016 | 31.24 |
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Do you see $VRX doing the same now ?
Niceee!!
Did you choose ENDP over VRX because VRX had a catalyst for failing (bad earnings) while ENDP was just a sympathy fail? Why not MNK, also a sympathy to VRX? What about ENDP was ripe for the picking?