You're missing a dollar and change in dividends on that chart. (Admittedly, I did miss the exit when that level was challenged the middle of last month...got lucky a few days later though.)
$1 and change dividend? And what does that have to do with the price of tea in china? Anyway I use the opening price of a trend bar as support or in this case resistance.
I took a small haircut and unloaded here. No reasons to try to chase this one when there's plenty of greener pastures to feed in...and two red candles do not a breakout make.
Good move - I think. Although it might pop a little, it's been looking anything but bullish last 2 days. Like you said, in so many words, no sense hanging around. Odds are a bigger pullback is in store.
The volume is not supporting the up trend. better not to trade this! you can try to buy it when it approaches the 20MA and bounce from it.
It's August remember? Volume goes lower and lower and lower. And what is so magically about a 20MA? Or any other length for that matter. Chart below shows it slicing right through it constantly - as if it wasn't there. Because it isn't there except in the minds of those who believe in squiggly meaningless mumbo gumbo. Price hit a prior swing high and ran out of steam. Price! Not an average price or any other artificial calculated number. What someone actually buys or sells at. Think about it the next time you want to check a MA.
No magic in any indicator ! they are giving you hints but no body shall trade them. 20 MA is just a semi-short term trend this is the important thing! If the stock is far away for the 20 MA. I would call this as over extended (Climatic play). Check Feb Price it should slow down again and approach the semi-short trend again ! it acts like a magnet !