On June 13, we looked at a wild trade in General Dynamics Corp. (GD). The price of GD hasn’t moved a whole lot since then, only going from $283 to $285.14 recently, but the trailing stop on the -ATR line has ticked up to $260.88, writes Ian Murphy, founder of Murphy Trading.
At the time, I said: “It had a picture-perfect washout and reversal bar on the -1ATR line on w/e April 11. A 50% retrace of the tall price bar also offered a line of support to watch, and coincidentally it’s exactly where the -1ATR line is now.”
General Dynamics Corp. (GD)
The first few weeks are always the most challenging on these kinds of trades, but at least this one is going in the right direction so far.
Meanwhile, with a cease-fire in the Middle East, stock markets across the globe have rallied. In Europe, the STOXX600 is comfortably in the green.
