Had bought 1,000 shares of Aphria Inc (APHA) on May 28 at $7.62 per share.. Why? To test my ideas for the “After Work” Swing Trading system.
The trading since has been similar to what happened after March 18th of this year. Price went down towards the middle between the two Bollinger Bands. Price closed below the moving averages, which normally would have gotten me out of the trade.
The MFI went lower and hit the trend line. The price stayed above the Low of May 23 ($6.38). I have read that is is prudent to buy on the retest of the low, instead of the initial price breakout, In this case It would have been better to wait before entering. I suspect on Monday trading will reverse as RSI(2) is back into Oversold.
So far this trade is losing money. As long as the price holds above the $6.38 Low I’ll stay in.
Disclaimer: This post is not meant as Investment Advice, nor is it advice to buy or sell any shares in any company.. Do your own Due Diligence. Seek out the advice of your own financial and investment advisors before risking any funds in the Stock or Futures Markets. You can lose money and even all of it when investing at the Stock Market Casinos. This post is for my own educational purposes.
Posted by: Vincent Banial