Since the beginning of July, Graphic Packaging Holding Company (GPK) has been forming a series of higher highs and higher lows since the beginning of July 2016. On Friday, it broke out of a bull flag pattern which formed during the last couple of days and it looks like a continuation of the short term uptrend is likely.
Swing trade parameters for Monday 9 Aug 2016
- Buy limit : $13.67
- Stop : A daily close under the most recent low at $13.45
- Target : $14.50
- Risk amount : $0.22
- Risk reward 1:3
Important : This is a short term trading idea which is speculative in nature and should not be seen as long term investment advice. Never risk more than 1% of your trading capital and always adhere to stop losses.
Interesting thoughts
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