Today was complete annihilation for this stock. It closed down over 18% on big volume at the low of the day. The only thing that seemed to save it was the 50-say MA, which is right where it closed.
Fortunately for me, though, I had just raised the stop after a 1R+ gain to protect 0.25R. After a little slippage, I still ended up with a 0.24R gain despite the carnage in the stock.
There was no news or event to explain it. I’ll be curious to see if any bad news comes out in the next week or so. It did crash right at the PoLR, so maybe there is just a ton of overhead supply there.
