Thursday, July 30, 2009

My Trade on HD-Home Depot

I entered a trade 2 days ago based on a divergence in HD's weekly uptrend and its daily price being oversold. This is usually a good buy point. I bought the stock on its break out of the previous days (Mondays) high, and keep adjusting my stop loss to the previous days low. A breach of that would not be a good sign and show that the trend is weakening.

Right now I have my stop loss at $25.12

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