This trade with Tiffany & Co. made me “enraged” a bit. The evolving trade war between US and China had a negative effect on the market, including Tiffany & Co.
Tiffany & Co. (TIF: NYSE) 2019.01.18 – 2019.05.28.
Opening price: 89,52 USD
Opening date: 2019.01.18.
Cost of transaction: 0,6%
Closing price: 92 USD
Closing date: 2019.05.28.
Result of the trade: +2,1%
For the first look this trade looks terrible but it’s always easy to be smarter afterwards. The shoulder created by the market in march looked strong enough to be a support level. That’s why I set the Stop Loss order at $92. Now I think that I should have been less optimistic and should have set the SL at $103-104.
I believed in the strength of the support and that the price would reach my target price. The most important is the result of the trade is positive. Look forward to seeing the direction the price goes.