Going exactly to plan, closed out the remainder of NUS today at 55.25 with an average exit of 54.80 (from 51.10 entry on 3/15/17) for a 7.2% gain. Summarizing the trade, I went long based on the signals demonstrated in early March including high volume, oversold stochastic, and clear resistance level of 51 (see horizontal line above in blue). This made for easy entry at 51.10 and happy to take profits as NUS approached my predetermined target of 55. Looking for the next winner.
Been following NUS for a few weeks and opened a long position at 51.10 on 3/15/17. Sticking with my original strategy, I took partial profits today at 54.72 as I believe the area of 55 will act as some sort of resistance. From here, will close out the position on a pop above 55 or if it pulls back enough to break the short term up trend.
- 3/29/17 update – Sold half of remaining NUS at 54.93
- 3/30/17 update – Closed out NUS at 55.25 for 7.2% Overall Gain
I’ve been watching NUS since March 1 when it transacted an unusually large number of shares. Since then, it’s been clinging to the 51 area without breaking thru having made it within .25 of 51 five times since 2/24/17. Today was the first day it was able to break above 51 and a couple hours into the trading session my stop of 51.10 was hit and my order was filled at that amount. From here, looking to start taking profits around 55 and using February’s low of 47.10 as my stop.
Today’s volume in NUS is certainly something to take note of. The stock traded 9.4M shares versus a 10 day average of 1.4M. Volume escalated in mid February with the major gap down selloff and since then has stabilized a bit, still on high volume, and for the past 4 days has started to look bullish as it’s closing back up around the 8EMA. Potentially could use this weeks high of 51 as an area to go long. If NUS can hold above that I think it should be able to get back to 55 quickly, while using the low of 47.10 from 2/23/17 as a stop.