The first trade: Long 1,000 shares of Oclaro Inc (Ticker: OCLR)

I bought 1,000 shares of Oclaro Inc (Ticker: OCLR)

Bought at $9.21

Target of $11.68

Stop loss at $8.24

(Area to watch for overhead resistance $10) 

Profitability Ratio 2.44 : 1 (Profit target $2,440, Max loss $1,000 including $15 trading fee to buy/sell 

 

  

Chart analysis:

OCLR sold off after earnings and found support at ~$8 (see oval to left of chart).

The stop is just below the recent low of $8.25 made Oct 29, 2010.

There is overhead resistance at ~$10 (see shaded rectangles) at this point we will watch the trade closely.

Our target is in the bottom range where ORCL went sideways for 4 months.

Upside... it could fill the gap and go as high as $12.95.
(Click chart to enlarge)

Trade to trade well, not to make money!

- Steve -