CRSP - Bull PennantCRSP was on a roll since it broke out of consolidation range (>112) on Nov 27. It started to form a bull pennant for the past week giving late comers an opportunity to stake.
There are 2 possible entries we can consider. The traditional way is to enter upon the break up of the bull pennant (this way the trade will almost always go our way). However, I do not mind entering at the lower end of the pennant (could mean longer wait before we see a good move).
Either way, I would still place a stop loss abt $1 below the pennant low of 138. Trail it upwards once we have a reasonable profit.
We do not know how high it can go eventually hence trail your stops upward (giving enough room to swing) or take partial profits along the way up.
