Arrowhead Electronics (ARW) did not have the greatest setup in my view, but was still good enough to take a shot at it at half position. The stock dropped to 38% Fibonacci retracement and bounced a little at a 31% profit and I'm happy with that so I took my profits Nd am walking away. Here was the trade:
Closed ARW put vertical $3.09 for a 31% profit (see original post with trade setup here)
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PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.
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