Another WBA Trade!! Deadly Accurate!
Updated
Hey Traders, We have another WBA trade. I have highlighted some of my most recent trades on WBA. There is a lot of institutional traders present in WBA, and we can gauge where they are most likely to be putting there money next. Those of you who have been following these trades know that they have been very accurate and educational. My most recent idea on WBA (Linked below) was a "Home run" Trade and I explained in that idea how managing expectations was crucial to successful trading. The idea that I published before that was a good test of patience because it took longer than we had expected so there is a lot to learn from these trades and I would like to continue publishing them if others feel they have been helpful. I have Re-entered into a Long Position on Wba.
Entry- $80.80
Target 1- $83.20
Target 2- $86.00
Stop- $78.00
I may trail stops on this trade after target 1 is hit. I will be sure to keep you up to date on how this trade plays out as I am sure there is going to be a lot to learn from it. This is a Swing trade and can take weeks to fulfill Targets. Thanks Traders, I hope this was helpful.
Entry- $80.80
Target 1- $83.20
Target 2- $86.00
Stop- $78.00
I may trail stops on this trade after target 1 is hit. I will be sure to keep you up to date on how this trade plays out as I am sure there is going to be a lot to learn from it. This is a Swing trade and can take weeks to fulfill Targets. Thanks Traders, I hope this was helpful.
Trade active
I would like to see a end of the day rally in WBA followed by strength tomorrow!Trade active
Unfortunately we have not seen any strength out of WBA over the past 2 days. I am still perfectly comfortable in this position right now. Price may be putting in a double bottom before heading higher.. I do not want to see price violate the low of my entry candle ($80.21). If price does violate the low of my entry candle, Then this may trigger some sort term selling, causing prices to fall further however I think this is unlikely. I am not too concerned about the weakness we are seeing due to a couple different reasons:1) There has been very little volume behind this weakness. If we had heavy volume, there would be a greater probability that price would head lower.
2) We had a massive gap down last week (check out my previous idea to see that trade) and these gaps tend to fill on this ticker symbol.
3) We also have options expiration coming up on Friday June 2nd and this can sometimes interfere with price if there are a lot of Call Options set to expire on June 2nd.. If the majority of these Call Options are "In the money", We can expect the buyers of the Call Options to exercise there contracts which would leave the Sellers of the Call Options obligated to buy shares.. This can result in a surge to the high side every now & again.
Trade closed: target reached
Target 1 has been reached. I will be actively managing position 2. I expect this strength to continue over the next week or so.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.