September 5, 2013:
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)
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)
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.
Joe
I think I’ll buy some Solar City stock!
Joe
yes