Today we are taking small profits with our KAR position by closing it out.
In the energy sector, stocks in the industry group oil and gas have had mixed results recently given the oil price as come off. Our initial position was well timed entering at the low end of the trading range, but it now looks as though KAR has met some stiff resistance at the $2.42 level. Given this unsuccessful attempt at breaching resistance, we are happy to exit with a small profit and allocate resources elsewhere.
Closed position result
Number of Shares Purchased: 300
Initial buy price: $2.03
Exit Price: $2.19
Position closed for a profit of: $480.00
