What kind of order is it when...?

Question

say the price is at $40, you want to sell if it goes below $39, but you expect it to go up to $45. So, this is probably the wrong terminology, but you want a stop at $39, but a limit at $45. Is there such an order and what's it called?

I don't think it's a stop limit since the price is already above $39.

Answer 1

sell stop at 39, sell limit at 45. some firms don't do these orders but some of the bigger ones will place "bracketed orders" or "either or"

It won't sell until it drops to 39 (then becomes a market order) or it won't sell until it hits $45 or better on the upside

A stop limit would be like "sell stop 39 limit 38" - limit order would be triggered at 39 and you won't take less than 38....

Answer 2

It is called a "Stop Loss" order