Zoltek Companies Inc - ZOLT
We’ve got a breakout in Zoltek Companies Inc - ZOLT this morning on the daily. The move up has been in a trend for the past five days, so we’ll see if it holds.
The stock provided an entry on the 5-minute chart. The 6th candlestick is the trigger bar over it’s high of 26.89. A stop is placed under the bar’s low at 26.81.
An alternative stop could be placed under the day low, which would be more conservative. 1/2 the shares are sold to lock in 2R, with a break even stop now. We’ll see what Zoltek’s stock does next. The plan is to use pivots as stop loss points for a hold until day’s end. This is a day trade.
October 20th, 2006 at 9:27 am
[…] In my last post I had sold 1/2 of the ZOLT trade at 2R, and left the rest at pivot stops. My plan was to leave the trade on until the end of the day. This would take any emotion out of the trade. I would let the market determine my exit. […]