Sonic Corp – SONC

Sonic Corp (SONC)

2018-0912

This was in Investor’s Business Daily Stocks on the Move yesterday and I placed a limit order today at yesterday’s close. I have giving myself a time stop of 7 days. If this does not turn positive then I will sell. This is Day 1 and it wasn’t good, but I am still within the stop. Looking at the charts there should be support at 35, but that is below my 5%. We shall see…

I  got filled at:  $38.38
-5% stop:          $36.41
+20% Target:   $46.06

IBD Rankings today
Composite Rating: 81
EPS Rating: 83
RS Rating: 92
Group RS Rating: A1
SMR Rating: N/A
Acc/Dis Rating: B
ROE: 33.2.2%
Debt: 66%
Outstanding Shares: 57.4m
EPS Due Date: 11/02/18

Dr Alexander has a triple screen for viewing charts and Trading for a Living is why I use the following charts

SONC 5 Year Monthly from Bigcharts 2018-09-12
SONC 5 Year Monthly from Bigcharts 2018-09-12
SONC 1 Year Daily from Bigcharts 2018-09-12
SONC 1 Year Daily from Bigcharts 2018-09-12
SONC 3 Months Daily from Bigcharts 2018-09-12
SONC 3 Months Daily from Bigcharts 2018-09-12
SONC 3 Months Daily from Stockcharts 2018-09-12
SONC 3 Months Daily from Stockcharts 2018-09-12

2018-09-25

I sold today, because Sonic was bought out and the upside beyond today is limited. I was down about -6.5%. This is beyond my normal -5% stop, but I wanted to give this one a wider stop.

The way this has been trading I moved it to -8% which is the classic CANSLIM stop loss.

See How to Trade Stocks by William O’Neil.  My copy has creases, folds, underlines, asterisks, and mud. This is a must read.

I had liked the way this was trading and I bought it. I was loosing money and this was more luck, but I’ll take it.

Current 3 Month Chart from Stockcharts.com

SONC 3 Months Daily from Stockcharts 2018-09-25
SONC 3 Months Daily from Stockcharts 2018-09-25