I closed out 2 positions today, JMP and POZN.
Enter Price: 5.99
Exit Price: 7.12
Days Held: 5 days
Trade Entry Signal: V shape reversal with William % R and Full STO oversold, Bullish MACD crossover.
Fundamental: P/E 15 EPS: 0.47
Exit Signal: 6 long white candles followed by a doji.
POZN is a fundamentally pretty strong stock with p/e around 6.5 and EPS 0.67, it was rated one of the most efficient pharmaceutical companies in America.
1. No clear Entry Signal.
2. Let fear get in the way.
3. MACD was showing positive divergence, no clear exit strategy at all.
4. Got flushed out as weak hand, sold at exact the bottom around 4.18. It was a loss of 16%!!!