AI
Thursday, July 12, 2012 5:50:15 PM
Bear flag continues back below MA's again
The bear flag on this stock continues to form. It is interesting to note that even with a very good bounce in the price of crude, $HDY did not participate in the rally. It has not yet fallen to a level where I will cover my shorts, but it continues to show weakness in that it is not holding above the moving averages.
The daily, weekly, and monthly show a confirmed downtrend and in the business of trading the trend is your friend. Any longs should pull out their pocket knife and cut their losses before this collapses.
The bear flag on this stock continues to form. It is interesting to note that even with a very good bounce in the price of crude, $HDY did not participate in the rally. It has not yet fallen to a level where I will cover my shorts, but it continues to show weakness in that it is not holding above the moving averages.
The daily, weekly, and monthly show a confirmed downtrend and in the business of trading the trend is your friend. Any longs should pull out their pocket knife and cut their losses before this collapses.
