3/24/17 Update – Holding Full Size Position in CROX

Stock CROX

CROX daily chart

Taking a look at where I stand with CROX, I’m glad to be sticking to my original game plan from the initial trade idea on 3/1/17. After what looked to my eye to be a potential reversal candle on 3/1/17, I first bought shares on the following trading day as CROX continued to be strong and took out the high of 6.94 from 3/1/17. Since then it has sold off a bit and appears to have found some support around 6.50 which is good. Upon making the original trading plan, I had noted that the area of 6.50 would be potential support and thus decided to add shares at 6.57 giving me an average price of 6.68. The stock closed on Friday 3/24/17 at 6.66, two cents lower than my purchase price. From here, I think CROX presents a pretty good risk/reward with an upside target at 8 or above which aligns with the 200 day moving average and a stop level around 6.20, the low from 3/1/17.