drop. double top at 38.85 in addition to the decreasing volume. initial target 35.25. that's how i'd trade it.
uptick looking at the chart.. KKD had a longer term head and shoulder pattern that failed to break on 2-5.. then it made a little double bottom and has made a higher high.. it could be forming a bear flag.. but i would be more inclined to see the failed H&S as a trend change and so i wouldnt take a position in it now.. just my .002.. -qwik
Okay. Now that we have a stop, we need a profit target... 3:1 ratio puts us at about 35.34 which looks like it has been hit 3 times in the last 15 days and looks like support. If it breaks under this support, you have a winner of more than 3:1. Not bad. P.S. This is only hypothetical advice. Trade at your own risk.
Nope. Forgot about KKD. Looked like I should of shorted it Wednesday in the 37.5 area after it bounced at 37.2 or so. KKD is now at 36.98. Looks like it bounced today off of the 36.60 area which shows some support from Feb 14-15. This stock actually has a chance of reversing up at this point! Trade this stock at your own risk! :eek:
I didn't trade it but I'd probably take some profit here. Still think 35.25 has a good chance to get taken out, especially with such a strong market today and KKD unable to rally.
I finally decided on a pro firm(if anyone wants to know they can check my homepage).....today's the first day with the software and even though it is diff than Realtick, so far I like it...and executions are fast.....although I've only made one trade so far today for a small loss....... so I'll probably keep a journal on my homepage now...if it gets too hard maybe I'll post it here (but I think Hitman's is enough) sometimes when updating my homepage, the java webbuilder hangs up and I just say forget it...so we'll see what happens