This is a review of our recent swing trade in Polaris Industries (PII). The chart below shows the technical buy setup prior to our entry:
On March 23, subscribers of The Wagner Daily were alerted to a breakout entry in PII. The strong closing price (near high of the day) and big volume confirmed the breakout:
After a few days of consolidation on lighter volume, PII broke above the prior swing high on April 3 (today). We took profits by selling into strength on April 4, locking in a 10% gain on the trade while risking only 4%. This equates to a 2.5 to 1 reward-to-risk ratio on the trade (10% / 4%), which is a very solid ratio for a two-week holding period:
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