FL fall on earnings miss looking for a retracement
Updated
FL on the 15-minute chart has indicators showing bullish divergence after the
big drop on the earnings miss. The volume profile shows heavy trading volumes at the
15.60 level. I am looking for a long trade to the mid-fib level of $20.00. I will set
a buy stop at $ 15.60 for when price crosses over the PCO line of the volume profile
for a trade anticipated profit of about 4.5 % with a much lower risk.
big drop on the earnings miss. The volume profile shows heavy trading volumes at the
15.60 level. I am looking for a long trade to the mid-fib level of $20.00. I will set
a buy stop at $ 15.60 for when price crosses over the PCO line of the volume profile
for a trade anticipated profit of about 4.5 % with a much lower risk.
Trade active
FL is rising well. Trade is now risk free as the stop loss is well above break even. 25% of position is closed to take some profits.
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