Hi Jill,
FWIW....I was going to hang with ALNY for a longer term hold. But I didn't like the chart developments and the bearishness of the general markets, so I sold it last Thursday (actually, my stop that was intentionally tight triggered).
139.142.147.218
At the time, ALNY looked for all the world like it would significantly correct, and I had a good profit in the trade. I just couldn't give myself a good enough reason for throwing away a profit in a stock, plus I think ALNY will present a better buying opportunity after a bit of correction. So I believe I can buy later at a cheaper price. As anticipated, ALNY did begin to correct, and now looks bearish short term.
When ALNY starts getting oversold, I'll be looking for an entry. The BBs are tightening now, and I am hoping this will get worse, and ALNY will trade down to the lower BB, which should rise to coincide with chart support and the rising 100 ema at about $7.00. If so, that will form strong support. It remains to be seen how things develop technically, but that could be a good setup for a very explosive upside move, with relatively low downside risk.
I'll watch it, but this time, I'll probably hold at least part of the position for a while. Probably, I will look to sell half the position at a decent profit. That always makes it easier to hold on to the other half, since risk/reward profile is improved.
WS |
