On Friday we saw a large decline after the short lived break of the MA barrier. This was in line with a decreasing momentum. Today we could not manage to regain the lost ground and failed to reach the MA again. With a further decline of the momentum I suppose that the stock has given up to change the downward trend and surrendered to the bears.
Trade stängt: Stopp nått
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Handel aktiv
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I am renewing the short trade. I think that the September low is a strong resistance .
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Sorry, but the stop has been at an important resistance level. A downward correction from here is likely. I will watch out to reduce the loss.
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Finito! I am closing the deal now that I could have used the downward correction to reduce the loss as expected.