Chicken Checkup

Gator's Chart of the Day: BWLD

On 8/14 BWLD was chosen for the Chart of the Day.  That's where the white oval is on today's chart.  Below is the trade information from that post.

The Trade

Since the market is holding up I think a position could be started now with a stop below the long term trend line just under 70. If the analysts are right about 86 as a target, that presents a risk of about 4.3% down and a reward of 18% up. It probably won't be a fast trade. Might take all season.

The trade is now at an interesting juncture.  Price is just clearing the 200 day with the 50 day on a collision course from above.  It is likely that we could see a pause or even a small pullback in the next session or two.  That would be a good thing.  Why?  Because I missed the entry.  LOL  If I get a second chance I will correct that.