A Trade A Day

Here’s a trading idea that is set to pop. While I was scanning through charts this evening, I came across NILE. NILE is forming a nice bullflag. Volume is in decline as the flag forms which is positive for this formation. Let’s take a look:

You could take NILE over 105 to 107. The stock is a mover with an ATR of over 5 so you’ll want to give this stock some cushion when it does setup. Let the stock break into new territory by a point or two. Keep your stops a little looser also. Manage your risk on this one by trading smaller lots.

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