stop-limit order

An order placed with a broker to buy or sell a security at a specified price or better after a given stop price has been reached or passed. A stop-limit order allows you to enter two prices: an activation (or stop) price as well as a limit price. The activation and limit prices can be the same or you can choose a different limit price. A stop-limit order becomes a limit order once the activation price has been reached or surpassed. When placing a stop-limit order, buyers must enter an activation price above the ask price and sellers must enter an activation price below the current bid price.