I bought the stock around midday after it broke through a key resistance level with strong volume. Then, out of nowhere near the close, news surfaced that the company could be sold, and the stock shot up immediately.
This is the first time I’ve been in a situation like this, so I’m not sure whether to keep holding or lock in the gains. I’ll be watching Monday’s price action closely before deciding my next move.
Positives
- Price is above the 10, 20, 50, and 200 moving averages
- MACD is getting strength
- Breaks key resistance with volume
Negatives
- MACD is in negative zone
- Did not close near today’s high
Trade Plan
- Stop loss: Intraday low
- Target: $156.82
