«

»

Jun 24

Exiting Long HCA Healthcare ($HCA), Weatherford Intl ($WFT)

Two more exits triggered for us at the close; HCA Healthcare ($HCA), and Weatherford Intl ($WFT), which as of today’s close were -1.7% and -2.4% respectively. We’ll exit both at tomorrow’s open.

HCA Healthcare ($HCA) -1.7%. Original 3/11 entry post here.

Although we’ve been at these price levels before during our holding period for this position, and we’re still above our initial stop levels and the 200-day, once we moved back above the 20 and 50-day just a couple of weeks ago we had a very strong setup for higher prices and what’s followed is very poor action. We’re still above those original levels, but we’ve broken the sequence of higher lows after a third failure and that’s enough for us.

AlphaCapture

 

Weatherford Intl ($WFT) -2.4%. Original 5/16 entry post here.

Similar in some respects to the rationale on $HCA, once we’d made a third attempt to set up for higher prices we moved our stop up to the swing lows near our entry, which the 50-day has since come up to meet. Although there’s some potential still here longer-term, a clean break of both those levels is enough to trigger our exit.

AlphaCapture

 

 

 

 

Leave a Reply