Guys hope you have been riding high and enjoy the journey so far. One thing to note though, especially for inexperienced short term traders, this is the moment where emotions like greed, over-optimism creeps into your head when your position is profiting fast in a very short time frame. You falling in love with a stock, get emotional and forget the discipline, risk management and patience which makes someone become an ultimate successful trader. Remember, profit is only yours when you have bagged them....
Back to the TA side, short term the uptrend is in full thrust at the moment, but expect selling pressure mounting once price breaks above around 57.50 level. My take is to lock in partial profits, reduce risk.
Can COH breaks above 60 and heading higher short term? I dont have a crystal ball, so no answer for now. But the key is to watch how the market reacts when the price arrives above 57.50 and what movements are followed by. I shall come back to you with commentary when the action unfolds.
COH Price at posting:
$56.45 Sentiment: None Disclosure: Held
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