Each week, our Editor runs scans within the Trading Edge Platform and identifies charts of interest for members. From the scan results he selects trading opportunities for members and identifies potential prices for Entries, Stops and Profit targets using TED’s unique Bull and Bear Alert triggers combined with support and resistance levels.

Fisher Paykel Healthcare Corporation Limited (FPH) was identified as a trading opportunity on the 5th March after a recent Flex term alert.  An entry zone of between $8.57 and $8.64 was flagged after a recent break up and retest of the breakout area.  A logical stop below a recent level of support $8.09 was highlighted.  A potential profit target around $10.15 was also flagged. An entry was taken at $8.64 on the 6th March.

After entry prices moved higher in a series of waves up followed by orderly pullbacks. The final push up looks almost parabolic in nature and it appears to be finding resistance at the all time previous high level at $10.20.

Profits were taken on the 29th May at the flagged profit target of $10.15 resulting in a 17.17% return. The stock was held for a total of 83 days.

For the Editors Select trades we generally close trades by taking profits if prices reach our profit targets. This also fits in with our overall seasonal strategy of reducing exposure and taking profits where possible during the month of May.

If you would like to learn more about the Trading Edge Dynamics platform and take advantage of our Editors Select Trade Setups, sign up for a free 14 day free trial.