We attempted to trade into China Mobile ADR (CHL) a few weeks back. We had a buy order to get in on a breakout above $50/share. It never did breakout and at this point looks attractive at the lower prices. We are going to make an adjustment and enter the trade first thing tomorrow morning, the trade is as follows:
Buy: CHL
Limit order: 45.85
It is time to take profits in Mercado Libre (MELI)
We bought the stock at $46.10 per share
We will exit tomorrow above $52.00 per share
A return on investment (ROI) of 12.8%
We have been in the trade for 6 weeks
Sell: MELI
Limit: $52.00
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