TRADING TIPS

PM Short Setup with Targets

Hubert Senters here. Let’s take a look at Philip Morris. Stock symbol is PM. It had a one day sell signal today as it drop below the cloud. A little bit of support here at $73-ish. In my opinion it’s got a good shot of dropping down to $69 to $66. If it can close below $66 it can potentially go as low as $66. So this would obviously be a short not a long. If you short it I would use a relatively tight stop-loss if you enter it at $73 and change. The stop that I would use would be $76 that little yellow line right there. And then my first target would be right in the $69 area. And then if it cut through $66 obviously I would try to hold at least half or a quarter of the position with a target of $56. Good luck. Hope it helps. See you on the next video. Hubert.

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