Solar City Stock Trade | Order Filled

September 5, 2013:

SOLAR CITY STOCK TRADE FILLED

My buy-stop order to purchase Solar City stock (SCTY) on a pullback into the gap was filled today at 29.32.  Let’s review the chart and the gap chart pattern setup.

(Click to enlarge)

SCTY-pricegap

I placed a buy-stop order to buy Solar City (SCTY) at 29.30, right at the bottom of the gap.  The order was good-til-cancel.

Solar City’s stock price did do a pullback into the gap today and my order was filled at 29.32.  It closed at 30.38, giving me a little profit on the trade, which is always appreciated. 🙂

(Click to enlarge)

Solar City stock chart

I am placing my sell-stop order at 28.25.  It is a pretty tight sell stop (only about a $1.00 below my purchase price), but since the stock market is undergoing a correction the odds of the trade not working out are high.  I want to limit my loss in case the market corrects further.

 

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