Alright here we go, my first trade idea! This site will be all about finding good setups to suit my trend following style and documented the performance of my trades.
First up is $PG, Proctor and Gamble. A 10% upward move out of the October lows has this stock trending up quickly. A slight pullback looks to have created a new swing low and it now presents a great risk/reward idea.
You could take an entry signal right here with a tight stop under the swing low, but I would like to see a little more strength upwards before getting in.
Fundamentally, the company is coming off a series of average quarters, however the big corporate news that is driving the stock up is the sale of it’s Duracell brand to Berkshire Hathaway in return for 4.7 billion in stock. Investors apparently like the idea of holding stake in $BRK.B.