The price has reached key inflection levels and displayed signs of rejection. Moreover, the overall market is overvalued, and the looming recession adds further concern. These factors influenced my decision to book profits and secure capital. So closed the position and booked a profit of 30.03% on the invested capital.
I will consider adding to the position if...
You may recall this one from last week’s Sunday Prep in which it was a short idea. Well now that it’s coming in, I would love to play the long on it if it could speed up down into the 200d area. It very well may reverse from here though and if it does, I’ll most likely skip it. I want my area or nothing.
