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Hi Raj, I have day traded QDEK many times this past year, always at a profit,
but my initial investment is at a loss.If you are looking for a longer term hold, then you may want to simply
hold on even if the stock sells down a bit. Many of us are in WAY above 7 5/8, so, your
position is looking pretty good to me! Frankly, I would be hard pressed to say where
the true level of support is right now, the stock has been all over the place, but will
hopefully stabilize. With this market, I have basically thrown "support levels"
right out the door, as many stocks just tanked right through their previous supports
not long ago. If the tech rally holds, maybe we can re-establish some more stable support levels &
hopefully, the volume will remain intact. If short terming the trade, my rule of thumb is to take
profits when the volume comes out of the stock when it's trading reasonably above it's 10 day moving average.
Similarly,as the stock approaches it's 10 day moving average, I watch it closely for a bounce.
Depending on your loss tolerance, you would probably want to back out if it tests it's 50 day - preserve
capital! In any event, good luck....to us all! |
