- HPQ gap up and ran off. Skip this setup and wait for next setup.
- RIMM stayed home and made little progress toward breakout level. Continue watch.
- MRVL moved above breakout level 14.54 and initiated a swing long.
MRVL:
A swing long position was initiated as the price of MRVL moved above 14.54. Keeping this trade tight by setting the stop to breakeven level after the intraday price has reached 14.78. This trade is now a risk free trade. Here is the daily price chart showing today's move.
HPQ:
HPQ opened with a gap up. There was news on possible breaking up the company by PE buying pieces of the company. Today's price action formed a shooting star candle which can result in a reversal move. Will pass on this setup and wait for the next setup.
Disclosure: long MRVL
