Collective 2: ACN and COST

Two early attempts to fish for a bottom were stopped out. Both closed for small losses leaving two candidates still "in the money".

The first stop out, COST, never got the kick I was looking for off the 50-day MA. It tested $53 support today; another potential buying area - but there was no real signs of strong demand here either. The 200 share lot closed for a -$346 loss (-3.1%).



The second knock out was ACN. This stock crashed through its 200-day MA (one of the reasons for the entry), closing below support. The 300 share lot closed for a -$141 loss (-1.6%).



Popular posts from this blog

Round 2 for the bearish "black" candlestick in S&P and Nasdaq

Big bearish engulfing patterns as positive start negated

Being "Right" but still losing...

Archive

Show more