This stock has been in a downtrend since August 2007, and has been bouncing between a pair of trendlines since then. It has now come up and bounced down off the resistance level, with confirmation from the MACD and stochastics.
The stock is currently at $22.84, though it was actually around $23.25 when I got in. Support is around $18.15 and resistance is around $24.50.
My exit orders are:
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Market order to exit if the stock trades above $25.40
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Trailing stop loss if the stock trades below $18.75
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Stop loss on the option at $4.00
April 15, 2008 at 8:40 pm
[...] 1 BCSI Jul08 30 put for $10.80 April 15, 2008 — Saeed I bought this put on 3/27 for [...]