The stock had a strong day on a on Friday closing inside the R680 - R792 breaking out of the bull flag. I wanted to enter the trade on the break. However the stock ran away from me, I was going to add into the position as it moves to the R680 - R792 box. I’m going to take the trade market open on Monday.
Trade mechanics
Account balance :R7232
2% maximum risk: R144.64
Entry: R680.4
Stop loss: R615.54
Risk per share: R64.86
Quantity: R144.64 / R16.07 = 2.2
Trade mechanics
Account balance :R7232
2% maximum risk: R144.64
Entry: R680.4
Stop loss: R615.54
Risk per share: R64.86
Quantity: R144.64 / R16.07 = 2.2
Position update
Average Entry: R645.8
Quantity: 7.8
Stop loss: R630.18 (-R15.02 risk per share)
Profit/Loss if stop is hit: -R117.16 (-1.58%)