Textbook trade setup on NCM charts., page-9

The action today warrants a trade update on this. Now that we have broken past the shoulder, I have now set a price target of $43.74. I will however liquidate half of the holding around $38-38.50, per the 35% upside in the initial post above. The rest I will liquidate around $43.75.

However if there is a heavy retracement after we hit $38, then this tells me that she is forming a cup and handle formation. I will be buying on the shoulder line again with a sell on 43.74 still. If this retracement scenario happens then the initial trade above will go to 'the early part of 2021. If you can't handle that sort of time-frame (I'm looking squarely to those on margin) then I suggest you liquidate all on the $38-38.50 mark and settle for the 35% upside than waiting for the 56% upside.

As usual DYOR and above is NEVER financial advice. It is for entertainment purposes only.