must come down and vice versa? NTRI was one of the top gainers in 2009 and it broke down really hard this year. After what seems to be an exhaustion gap in the beginning of march it showed up on my gainers list. I don’t know what the news was, but clearly there was a pleasant surprise. It ran up hard but finally offered a beautiful opportunity to enter. It was a pleasant surprise in a choppy market where most of the strong stock seem very extended and offer less opportunity.
Beautiful 1 min cup and handle pattern
- NTRI shows up in gainers list early
- It took until 11.00 to correct for the first time
- The next hour it formed a beautiful 1 min cup and handle pattern
- Entry @ 17.04, SL @16.95
- As it moved up a lot I was conservative in my first target, just an equal move from the 1 min flag (right side of the cup and handle
- Exit1@ 17.30
- I put the stop on the rest to breakeven and was hoping for a larger equal move though that was very ambitious
- Despite my doubts second target was reached 1 hour later
- Exit2@17.95
- Result: 26 ct + 91 ct = 117 ct /2 =58 ct or 5.8R for the trade
- Other trades: DNR; 1R, VECO -1R on a lousy entry
