Home > Market Commentaries > Our first trade gains 5.6%, the second gains 8.5%

Our first trade gains 5.6%, the second gains 8.5%

Posted: 12/24/2012 - 2:13 pm

On December 18, we said that our trade in Arriyadh Development (4150) attained our target for a 5.6% gain in two days. The strong move by the stock hinted at further upside and made us recommend a re-entry at 21.20 with a new target of 23.00 (read: Attains our target in two days for a 5.6% gain).

The chart speaks for itself. The stock has had a stellar move since then gaining nearly 14% in three days. Those who closed their positions at our target of 23 have locked in 8.5%.

With no sign of exhaustion in sight, more upside could unfold and remaining positions should be held with a stop at 23.30. That said, the reward/risk profile does not support a new entry at this point.

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