Simple Trading Stalk Candidate – CNL – 17Jan2014 Close

simple trading setup

Cleco Corp. is poised for a move higher.  We like an entry at or below $46.80 with an initial stop loss at $45.50.  If price violates the rising trendline before breaking higher through resistance up around $48.00, the setup is nullified.   Targets are left to the individual trader, but we suggest exiting a portion of the position (if possible) at $48.10 (entry + initial risk) and allowing the balance to either stop out or run much higher.

As always, risk control and minimization are paramount.  Be sure to exercise both.

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