Ichimoku Stock Trade of the Week: Oct 31, 2014 5 time frame buy on HSY , Hershey Company

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:

weekly_stock_10_31_14_email

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:

weekly_stock_10_31_14_chart

 

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.

If you would like to learn how to trade like an institutional trader or learn more about our multi-timeframe email alerts, go to www.ichimokutrade.com or email us at info@eiicapital.com

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About the Author Manesh Patel