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What kind of order should allen set

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Question: Allen Morgan has bought a round lot of Apple, Inc., common stocks, which are traded on the NYSE at the price of $100 per share. Allen is afraid that the price of Apple stocks may fall during the day, and he wants to set an order that can limit his losses to 7%. What kind of order should Allen set? What is the price that he will choose? What is the best form of order if he wants it to trade only until the end of the day?

Reference no: EM131624143

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