TECK - 8.06% Potential Profit - Corridor Breakout
Updated
Corridor breakout. New support confirmed multiple times yesterday.
Target price set at new Resistance bounce.
- 5-month uptrend with a 2-month correction
- RSI and STOCH above 50
- MACD above Signal
Suggested Entry $12.01
Suggested Stop Loss $11.72
Target price $12.85
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
Target price set at new Resistance bounce.
- 5-month uptrend with a 2-month correction
- RSI and STOCH above 50
- MACD above Signal
Suggested Entry $12.01
Suggested Stop Loss $11.72
Target price $12.85
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
Trade active
2.02% profit secured.Will re-enter above $40.35 at correction breakout.
Trade closed: target reached
Re-entered at $12.28 (apologies for the typo above).3.61% profit.
Total profit: 5.63%
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