DizkoverWatch out for #CSIQ, it could rally soon!
Updated November 29, 2013 ● 317 views
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Another stock I'm watching right now is Canadian Solar (CSIQ).
This one is at the bottom support of an uptrend channel.
This could bounce back up to the higher resistance line or maybe even break out to the next Fib level of $39.
UPDATE:
Obviously, CSIQ went the opposite direction yesterday. I took a 25% loss when it broke below the uptrend channel support yesterday.
This is an example trade where I did not wait for confirmation. I assume the support line in uptrend channel is strong. The chance for 100%+ profit is worth the risk of losing 25%. Just always place your stop just in case the trade is not working.
So still... the best strategy is "always wait for confirmation".
So when should I enter a trade? Should I enter when it breakout above 33.25?
money101 · 11 years agopermalink · reply (2)
@money101: You know you could actually enter a trade now.
I already entered a call position with stop to sell if it's breaks down below support channel.
Right now, CSIQ is $30.88. You can enter a call trade with conditional stop-loss to sell if price goes below $30.
Goodluck.
David · 11 years agopermalink · reply
@money101: Obviously CSIQ went on the other way as I would thought it would. And I hope you didn't buy. As for me, since I bought last week, I took 25% loss when I sold it yesterday when it hit below $30.
David · 10 years agopermalink · reply