Pattern: $84-$90 support has proven itself a multiple times. Stock is in a medium term consolidation pattern between $85 to $130 range.
Edge: Buying so close to or right at support gives us a great reward to risk ratio. If the stock breaks below support, we are stopped out for a small loss, but if support is protected again, we have more higher upside.
Risk Management: Bought at $87 Stop Loss = $84 Profit target 1 = $113 Profit target 2 = $130 Profit target 3 = open
Risking $3 to make at least $26 for PT1. That's over 8:1 ratio for just PT1!
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