The stock opened higher but sold off throughout the day. Unfortunately, I had an automatic buy order that got triggered, so I ended up buying near the top and I’m now stuck in the position. The good news is that volume was relatively light today, so there’s still a chance the trend could reverse next week.
Positives
- Price is above the 10, 20, 50, and 200 moving averages
- MACD turns positive
Negatives
- Open high closed low
- Broad market is weak
Trade Plan
- Stop loss: Intraday low
- Target: $107.03
