There was a signal to go LONG on MEG ENERGY CORP’S stock. The Entry was at $33.16 and the Initial Stop for the trade was $32.83. A risk of $0.33 per share. The Entry and the Target were set based on Proprietary Ichimoku Strategy. The price hit the entry point and started to move in the favour of the trade. As anticipated, the price hit the previous set target of $34.18 thus giving us a profit of $1.02 per share. A Risk : Reward ratio of 1 : 3.1 was achieved in this trade.
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