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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.