Ichimoku Canadian Stock Trade of the Week 06-02-2014 : VERESEN INC., BUY

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On June 02, 2014, we received an Ichimoku 4 multiple time frame buy email alert on VERESEN inc. for the Indian Stock Market. The email is shown below:


The email alert was for a break out of the stock on the bullish side. This breakout setup was emailed through the automated email alert system, as shown above. As soon as the price broke on the bullish side, it had a strong momentum supporting it.    There was an ideal opportunity to take a break out trade.    The Entry was at $17.20 and an Initial Stop of $16.98 was placed. That gave us a risk of $0.22 per share.  As the price was looking to go to an all time high, therefore no Preserve Mode was applied. Instead an Ichimoku based strategy for a Trailing Stop method was applied. The Entry, Initial Stop and the Trailing Stop were based on proprietary ichimoku strategy.  As soon as the price started to move in the direction of the trade, a trailing stop was put in place. The price reached a new high and the price was trailed. After reaching the high point, the price started to pull back. As a trailing stop method was being applied after the entry, the trade exited on a pullback at the price of $17.67, thus giving us a profit of $0.47 Per Share. This trade gave a Risk to Reward Ratio of 1: 2.14. Here is the chart setup:

06_02_2014_Veresen 1

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