The Stop Limit of $12.60 has triggered on Rave Restaurant Group (RAVE) common stock.
Dear Momentum Stocks Weekly Subscriber,
I have a Profit Alert on a trade that I hate to have to close, but the Stop Limit has triggered on today’s 5% pullback.
Rave Restaurant Group (RAVE, $12.33, down $0.62)
Original Entry Price: $8 (8/13/2014)
Lowered Price from Selling Options: No options available
Exit Target: $20
Stop Target: $12.60 (Stop Limit)
Shares opened at $12.85 and made a run at $13 before fading to a low of $12.11. In the process, our Stop Limit order at $12.60 has triggered, and we are now out of the trade.
I will keep RAVE on my Watch List, as it is a company I would like to hold for the longer term. However, I want to wait until the bottoming process is complete and fresh support is established before jumping back in.
All prices given in this update are current as 3:25 p.m. EST.
I hereby disclose that I will be participating in the aforementioned trade(s). Every new Momentum Stocks Weekly recommendation is listed with the price at which I entered my own position. If the price is slightly different than my recommended entry or exit price when you receive the alert, don’t let that keep you from getting into or out of a trade. Occasionally, you might even get a better “fill” price than what is posted in the Open Trades and Closed Trades.
Momentum Stocks Weekly