POSITION UPDATE: MDXG

MDXG looks to be in wait on earnings mode as we have traded on either side of $15.00 for several days now on much lower than average volume. Currently trading near $14.86, it is getting in the neighborhood of our stop price near the 50 day EMA. Remember that we took profits on half our position so we will hold through the earnings report due out Thursday morning. Until then, try not to get taken out of your position on a move into or slightly below the 50 day on light volume trade however, you must have a point in mind that will have you close the trade should the stock move too far beyond that point. Somewhere between $14.00 and $14.25 may be an area to consider. We do not want to be taken out of our trade prematurely so we try to use some discretion but preservation of capital is always paramount. As traders we need to find that balance so have a plan in mind going into tomorrow.

-CJ

 

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