Going long FL on Wednesday

29 בנוב׳ 2017

FL is printing a bullish hammer canldestick price bar near the 11/17 gap-up LOD on above average volume with my momentum/trending oscillators confirming the price move. I am going long FL Wednesday morning using a limit order (GTC-BUY-LMT) @ 40.45. I will have two trailing sell stops (GTC-SELL-STP) @ 38.66 and 38.25 to protect my initial invested capital in case FL does not move higher immediately. I am expecting the stock to move up and through its August and May resistance levels with a new 52-week high being the ultimate goal in the intermediate term.