Monday, April 20, 2015

BHI, SWIR, AKRX and EMN trades

Market was green today due to Chinese stimulas. As per S&P 500, the next resistance for tomorrow would be 2112 level and if breaks above could head towards 2140 level.

Closed Positions:
  • Sold my BHI stocks which were bought on Friday at 66.71 to 69.08. As it moved up, I set up my stop loss just below 1 min support level chart after hitting 69.30 level. I was expecting for the stock to move up to 70's at least but it didn't move up there due to the earnings fear. 
  • I got into SWIR at 36.74 as per 30 min support but unfortunately, it broke down the support and I was stopped out for 5 cents on each stock at 36.69.  I will be watching this stock tomorrow to see what direction its going to move. I am expecting it to move down towards 35.24 level as a part of correction as per 4 hour's chart. I will watch there and take position based on its movements next.
Opened Positions 
  • EMN - I could see 2 supports on this stock based on 30 min chart. One was at 75.23 level and next was at 74.80. So I just decided to get into half positions thinking if could go to next support I could add more. So now I just have half positions bought at 75.26 than what I was planning to get into. So my exit target would be around 78's where I see the room to move up.
  • AKRX: I see the room to move to 56, level I decided to get in at 54.12. I am holding this along with EMN to exit at 56 level tomorrow.

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