You have a couple of scenarios playing out with the stocks you have selected.
Let's look at COP first. COP had the most technical damage of the stocks you now own. Price exploded to the downside breaking below the 20 and 50 day moving averages and price has a wide separation from the 50 day moving average.
Since the 50 day moving average is now resistance, I would expect price to come close to testing it.
One strategy you can use is an anticipatory strategy where you sell a portion of your position, or all of your position, if price trades up to $65.50, give or take a quarter or so, since the odds favor price pulling back once it comes up into new resistance.
stockcharts.com[h,a]daclyiay[d20050707,20051007][pb50!b20][vc60][iut]&pref=G
One strategy you can use is to set a price target. You could say I will automatically sell part of my position, or all of it, if I can earn $1.50 to $2 per share on the trade.
If you sell part of your position then you go into a strategy known as tracking the lows. For example, yesterday's low for UPL was $48.42. You could set your stop a few cents below that. If Monday is an up day, you can set your stop a few cents below today's low of the day and each day you track the previous day's low and set your stop just below it.
Or you can track the lows on your whole position.
stockcharts.com[h,a]daclyiay[d20050707,20051007][pb50!b20][vc60][iut]&pref=G
dabum |
