NOMD – before market open
(we do not recommend any stocks. This is simply a stock we pulled from our watch list.)
What got our attention is the upside compression occurring this past week. Price has been platforming as well since last earnings (May 27th). There’s a preponderance of black candles in the platform which is key to note. Not a lot of wicks and tails on candles which is good. Lots of wicks and tails means buyers and sellers are not in agreement of price. Entry would go as follows:
Buy candle: 8/21/17
Sell candle: 8/22/17 for stop at consolidation (generally swing)
and 7/11 candle for stop below platform (generally position hold)
Buy stop limit order: BS: 15.49 LO: 15.87 (Bracket order – Buy me in at 15.49 but pay no more than 15.87)
Sell Stop: 14.44 or 13.29 depending how tight you want stop and trading style.
Order entry depends on earnings report as this would be an earnings play.
AGAIN – not a recommendation.