Closed Emera (EMA) Swing Trade But Still Like the Chart
Emera has been a strong performer, pushing higher throughout the broader market turmoil. The stock hit my target of $55.96 today so I closed out the position, but the chart is still looking good.
It broke out of a range today, on strong volume, indicating there could be another push to the upside. That provides a target of $58.50 to $59.
Earnings are due out on August 12, so that's another reason I am fine to step aside for now.
Disclosure: no current position, but may re-enter following earnings if the chart still sets up well.
It broke out of a range today, on strong volume, indicating there could be another push to the upside. That provides a target of $58.50 to $59.
Earnings are due out on August 12, so that's another reason I am fine to step aside for now.
Disclosure: no current position, but may re-enter following earnings if the chart still sets up well.
Cory Mitchell, CMT
Stock and forex trading insights at tradethatswing.com/
Stock and forex trading insights at tradethatswing.com/
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