I'm mostly a swing trader myself, but ideally I like to buy issues for the ST that also have some LT potential. Once in a while I continue to hold some shares LT. Normally I don't look at weekly charts that often, but this one is very interesting and I use it as a proxy for the sector.
With respect to RSI/MACD you're talking about positive divergence and I've noticed the same thing on both the daily, weekly and hourly. If the sector was more fundamentally undervalued I'd probably take a bigger position here given the LT charts and OBV. Agree downside is limited and I should hold regardless, but I tend to protect capital above all else especially in this environment.
I don't have a very good feel for the markets or PMs very ST here so in those instances it's best to just step aside. Right now the BLDP position is relatively small for me. I was interested by the technicals 2 days ago and the relative strength, but so far it's been a losing trade. My largest position continues to be cash. Watching the Naz and SMH here for clues. Naz has been underperforming on this latest market ramp which suggests upside is limited. Nothing looks really compelling here long or short.
1/2 stopped out of BLDP. Should have support here, but markets just look plain ugly. I feel retrace is looking more likely now.
