Another Technical trade, based on CCI and confirmed by RSI. Because the price of this stock is under $10, I cannot buy 1 Million Shares. Even an order for 100,000 shares would have some issues. 10K should get filled quickly and easily. I believe that I am a bit early on the buy, as Friday morning might confirm what I expect will happen. I had waited too long to get into the PINS IPO as I did not expect the share price keep rising day after day without any consolidation (at least not till I bought in).
Buying 10,000 shares of ECA (Encana Corp) trading on the NYSE at Open on May 02 at Market.
My Target to sell will be around $8.35 as Resistance is around $8.50. The Gap Down which was created Nov 01 2018 could get filled and the price could float higher around $10 before taking a longer rest.
Disclaimer: This post is not meant as Investment Advice. Do your own Due Diligence. Seek out the advice of your own financial and Investment Advisors before risking any funds in the Stock or Futures Markets. You can lose money and possibly all of it. This post is for my own educational purposes.
Posted By Vincent Banial