Save yourself some money by not waiting for the stop loss to get hit if you see these signs.
#KALPATPOWR Nice Cup & Handle formation on daily along with the rising 50DMA and price moving along with it. It offered a new trade opportunity above the high of 25th June at 533.8 & above.
The trade got triggered on 1st July as #KALPATPOWR made a high of 554.5. But by the closing, it couldn't sustain & closed in the lower half of the day's range with one of the highest volume of the last many months. Weakness on the breakout day itself is a major RED FLAG.
When that happens, the chances of this trade working go down by half. This bad breakout day is negated only if there is a strong follow-up buying within a day or two.
On the 3rd day, another attempt to cross 554.5 failed & it failed with the highest volume of last 1 year. The stock closed near the low of the day. That was it for me. I would have closed this trade at market price saving my portfolio from that extra loss.
#KALPATPOWR fell another 3.6% yesterday.
Review your trades EOD every day & see if you should continue to hold or exit your position. Should you trim it or add more to it? This is trade management & it will weed out losers from the portfolio. #BroTip
