Update on HOV – Took a loss and moved on

Took a loss on HOV.  This one did not hold the area above the trading range it had broken out of of around 2.40.  Averaged in after my write-up at $2.38, then got stopped out at $2.32.  At that point it would be safe to say that reasoning to get into the trade was not justified.

Take a look at the chart below.  It looks like it’s now bouncing off of the lower part of the trading range, but I’ve moved on.  That $2.40 range is now resistance and there’s not enough expected profit to justify it for me.

The Greedy Goblin

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