Looks like our stop loss sell signals were valid given that BKL today closed on a new low of $150.2. Since the most recent high of $178, BKL has fallen some 15.6%.
I also try to keep my charts as uncluttered as possible. I use slow stochastic oscillator (14,5,5) to assist with entry triggers. When the moving averages are sideways or up, slow stochastic is down the near the 20 range. When this crosses over and starts to turn up from the 20 'oversold' zone, it provides some weight of evidence to go long.
MACD histogram was useful for tracking declining momentum on BKL. The smart money was selling into strength during stage 3 distribution back in most of Dec, 2017.
By any TA metric, BKL is now a sell with momentum shifted to the downside. Price is falling faster than it rose. QAN is a close example to BKL, where price trended up for some months then sideways, and currently stage 4 downtrend.
The first signal to go long BKL was back on Aug 30th around $109 when it broke above the 200-day MA on heavy volume (346000). I have some stocks on buy alerts when they break above the 200-day MA via broker SMS / e-mail alerts. Assuming the candle is long, coupled with large relative volume, this is a signal to buy.
The best investors and traders don't fall into the endowment effect trap for any company. It is all about the money, and managing risk.
BKL Price at posting:
$150.20 Sentiment: Sell Disclosure: Not Held
