This stock is in an extended uptrend, but it is currently in a short-term downtrend that started in May. It has a very clear downtrending resistance level, as well as a downtrending support level and the long-term uptrending support level. The stock has come up and bounced down off the resistance level, and the MACD and stochastics have both peaked and started to head down.
The stock is currently at $48.68. Resistance is around $50.25 and the nearest support is around $42.
My exit orders are:
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Market order to exit if the stock trades above $51.70
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Trailing stop loss if the stock trades below $43.25
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Stop loss on the option at $4.50
