Here’s your trade on Pilgrim’s Pride ($PPC) (October 07, 2019)
PPC
I have been scouring the market for the last few days and I have only found a few stocks that were even kind of worth looking at. Nothing really that I am looking at and just kind of pounding the desk saying, “I just can’t wait until the opening bell tomorrow because I have got to buy some of this.” I just don’t see any of that right now; the market is just really pretty sloppy. But one of the stocks that I have been looking at is Pilgrim’s Pride ( NASDAQ: PPC ).
I don’t own any of this but as I really look at it this has been the trading range, about $30.00 up to about, we’ll call it 33.00, probably more like 32.50 or so, but he stock is trading in this sideways range. And so if you kind of want to get an early jump on something, again, I don’t own it, I don’t own much right now, but if you want to get an early start on this, you get the “can’t help its”, you have got to do something, you could look at taking some of this stock. Keep a real tight stop, 29.80, something like that, 29.90, just a really, really tight stop. Then you are into this stock at the bottom of the range and then when the stock runs back up to 32.00 you are kind of sitting in the catbird seat. At least you could raise your stop, at that point, to break even so you are not risking any money. And then if the stock ultimately breaks out above 32.00 then you are buying more. This is one way that you can trade this stock.
Free Chart