Trading Log: Review of Capital Commercial Retail REIT
The typical opportunistic trade gone bad. I saw this as a good opportunity since MACD is turning down but believe that just like the current trend it will stay above the 22 day moving average.
My Entry was at 88.5 with a profit target of 95-96 for a 7% profit.
The stock never did move any higher than the price i bought it. Anticipating a correction could be underway on the weekly charts for the broad market, i made the decision to close this trade at 85 for a 3.41% loss.
Interestingly it is at the bottom of the channel. This trade decision might come back to haunt me.
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Comments
The norm is that you would expect that the moving average to hold rather than the breadth indicators. judging by the strength of the market, the upside have greater strength then the downside. Unfortunately the ma did not managed to hold.
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Why do you buy when MACD is turning down? I would wait until MACD managed to cross signal line below or on the 0 value.
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