Hi Ian HI bought LEI at $33.6 in Nov and I've sold it at $31.84...

Hi Ian H

I bought LEI at $33.6 in Nov and I've sold it at $31.84 last Friday because I saw the bearish divergence and downtrend channel formed since I bought it .

Yes I made a loss on this trade , I could have minimize my loss to 1 or 2 % if I had use stoploss but I was just too confident about the company's strength.

Well, I am learning from the market too. I made a loss because I put too much emotion into the company. This is the mistake I ought not to make again ;-D

Today's price action shows that the down trend channel is respected (opened higher but go down from $32 resistance point) , I will leave this one for now until it breaks away from the channel.

The way you interpret the chart is fine. However for blue chip stock it is better to buy when RSI is showing oversold, this can increase your chance to make some profit