Sold Half UMAC For 35% Profit. Will Look To Re-enter At This Level...

#stock #trader #liquidity #trading #umac #techstocks

Hey, good morning trading fam!

We’ve bagged another one for good profit here on UMAC. Though, we haven’t reached my final target yet, I can see that we’ve run into some resistance at around $9. So, I’ve decided to take half of my entry out for 35% profit, raise my stops to be well in the profit, and let the rest ride. Congrats, to those of you who followed me in this trade!

Now, let’s talk about where I’d re-enter back into this trade.

You can see from the chart above that I’ve marked our current resistance where I took half of my trade out. I’ve also marked an area on the chart at $7.66 where I see good support. The strategy is to let the rest ride as I have raised my SL to be well in the profit either way. But, if we come back down to that $7.66 level, I’d re-enter a portion of my portfolio back into the trade still shooting for that final target of around $12 or 80% profit. I think we’ll get there.

Best,
Stew