On April 19, I presented chart of Pico and said that I liked the chart.
It really took its time to finally peek out of that box-shape base. But it finally did and an order north of 32 was hit. While stock was taking it time, I did a full OEW count on the stock
Here’s the daily
If the preferred count is correct, there is substantial upside potential in the future of the stock. For that reason, I am willing to take my chances with a holding planned for the keeps. Of course, the preferred count may be wrong, and the alternate count may be in force with a stock in a counter rally in a long-term correction. To protect myself against that, I will use trailing stops. I may also use options. For now, if the bullish count is correct, I would not like the stock to drop below 30.
It really took its time to finally peek out of that box-shape base. But it finally did and an order north of 32 was hit. While stock was taking it time, I did a full OEW count on the stock
Here’s the daily
If the preferred count is correct, there is substantial upside potential in the future of the stock. For that reason, I am willing to take my chances with a holding planned for the keeps. Of course, the preferred count may be wrong, and the alternate count may be in force with a stock in a counter rally in a long-term correction. To protect myself against that, I will use trailing stops. I may also use options. For now, if the bullish count is correct, I would not like the stock to drop below 30.
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