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