Trade Closed – RJET @ $13.25
December 1, 2014 MarcoTrade
Republic Airways Holdings (RJET) staged a bearish reversal today. After hitting a high of $13.80, it reversed on high volume to finish the day down 2.8% at $12.91. As indicated in this post our short term target was $13.88. I advised to sell if the stock struggled at that level. Today’s trading action confirmed that institutional selling kicked in and I decided to close my position at $13.25, right around last week closing price. This trade yielded a nice profit of $0.83 per share or 6.7% in less than 2 weeks.
Remember never to argue with the market. Price and volume action tells you everything you need to know on a stock
Categories: Closed Trades
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