Oct 27, 2014 04:29:10 PM EST, we received an Ichimoku email alert 5 time frame buy on the stock HSY, The Hershey Company. Here is the email alert:
The higher time frames are indicating that this instrument has a high probability of retesting the high. However, the instrument has been consolidating and earnings is 2 days away. Therefore, we can not setup a breakout trade. We have look for a pull back trade which a multiple time frame support. The entry is 92.65, initial stop of 91.68, and a preserve mode of 95.62. This gives us a min. reward of 2.96 and a max risk of 0.95. This is a 3:1 reward/risk. Here is the chart setup:
After earnings, our alert got triggered. We looked to enter with options since volatility is low. We now are in preserve mode with the current stop of 93.97.
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