| Raven (RAVN) -- Weekly |
Updates on Previous Picks
- Alliance Resource Partners (ARLP - Get Report) is still open
with the entry at $35.75. The stop is at $37.75, which offers $2 in risk. The first profit target is $33.75, and the final profit target will be determined if the current support at $33.50 fails to hold as support on a closing basis. Shares closed at $34.68 Monday.
- Copa Holdings (CPA - Get Report) did not set up
last week. The strategy is to see a close under $50 and then a return to $50 for an entry. Once the trade is entered, the stop would be placed initially at $55, offering $5 in risk. The first profit target would be $45 to serve the one-to-one risk/reward ratio; partial profits could be taken there. Then, depending on the price action, the original stop may be lowered closer to break-even. The final profit target would be $42.50. If Copa's share price closes under $50 but then moves below $49.25 without first offering the entry, this trade setup is no longer valid. If the price moves above $57.50 without first closing under $50, that would also invalidate the setup. The stock closed at $55.84 Monday.
- Intermec (IN) also remains open,
with its entry at $24.36. The first profit target of $22.25 has already been hit. Partial profits could have been taken there, and the stop should have been lowered to break-even. The final profit target is $19.50. Shares closed at $21.08 Monday.
- PetMed Express (PETS - Get Report) is
still open with an entry at $12.80. The stop at $14.25 offers $1.45 in risk, and the first profit target at $11.35 satisfies the one-to-one reward/risk ratio. Partial or full profits could be taken there. If partial profits are booked, the stop can be lowered to $13. The final profit target would be the September lows of $9.50. Shares of PetMed closed at $12.47 Monday.