Profit Taken on VRSN

This one has been held since being highlighted in NFTRH 436 on February 26. Two months sounds about right and now I am taking the profit because there are other areas I want to free up cash for (I remain in high cash mode for risk management until a big, macro ‘no brainer’ happens along).

Here is the simple weekly chart we used to illustrate a Symmetrical Triangle in #436’s NFTRH+, Trading Notes segment. Since it was highlighted just before its breakout it has been an unspectacular, but profitable machine.

vrsn

With the dynamic possibilities for stocks on their earnings release (ref. the tale of two medical device stocks yesterday) I will take the 7+% in hand and let the 2 birds in the bush fly if they are going to. I’ve added other interests in US stocks and need balance.

For what it’s worth, a valid technical target for this pattern is higher, at 95.

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