A little success story from the ABC pattern class.
Over the weekend in my Fibonacci & ABC pattern study, I noticed in my Life Insurance sector [ I am in the industry & wanted to see how the competition is doing ], that a nice pattern was developing with Lincoln National Life. They broke above both their 50 day MA & 10 day EMA last week at about the 25.5 level.
I bought 5 July 27.5 @2.75 and this morning the stock has spiked up to 29.72 for a profit on paper of $600. I have also entered a stop loss at $3.40.
Jerry, hopefully I looked at this correctly. It looked like they had some higher highs and the MACD was in “summer”. The RSI has gone well over 80 but I do have a stop loss in so I will at least get around a $250 profit.
I entered a couple other small ones on AMD & WMT.
John N.
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