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51. You are short 3,500 shares of a $40 stock and based on its chart, you believe the shares could rise to $45, but that
51. You are short 3,500 shares of a $40 stock and based on its chart, you believe the shares could rise to $45, but that there is a resistance level at that price and the shares will likely fall back and continue to fall to a price significantly below $40. If the shares are able to break through the $45 resistance level, they could rise by an additional $10 or more. To try to protect against a large loss on your position, which of the following orders should most likely be placed?
- Short sell order.
- Good-till-canceled stop-sell order.
- Market order to buy.
- Limit order to sell in the money.
- Good-till-canceled stop-buy order.
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