Hubert Senters here.
Let’s take a look at ESRX. You can see the symbol right there on TradeStation breaking out today up to $3.43 or up $3.47 percent to $95 stock. Nice little move here. Now, don’t chase this thing. You can see that it had a very long extended period of time where it was in the pain box here which is back and forth.
And then it had a move up and then consolidation compression inside of compression and then it took off to the high side. If you chase it now you’ll probably lose money. So what I would do if I were you is I would buy pullback. So what you can do is figure out where is the most recent low.
I’m going to zoom in here and grab this from this most recent low to that most recent high. You’d like to see a pullback back to $92.29 in order to purchase that. Now, if you’re a little bit more on the aggressive you would do a 50 percent retracement of today’s range on the last day like that struggling today I guess.
And then how that would work it would go on from this low of today to that high and your aggressive opportunity would be $93.91. Okay. Tight stop-loss and your target will be in the range of $97 to $100.
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Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
