The switch to a new hosting plan is completed. Now it will take some time until I’ve figured out WordPress, the template I bought, FTP programs etc.
On to the markets.
Today I bought an initial position in TSYS. This should come as no surprise. The stock is strong and it has been up on my public list for quite some time. So why did I buy today?
Take a look at the intraday chart. Check with even smaller time frames using the software of your choice. Basically nobody was able to buy below 8.50 after the stock gapped up a few weeks back. True support therefore starts at 8.50. My stop loss at 7.78 gives the stock lots of room. If the stock is to move higher I won’t get stopped out. If I get stopped out the stock is not as strong as I expected and my analysis is flawed. Simple as that.
Have a great evening.
