I Really Wanted to Trade This Stock...

Written on 06-06-2009 5:56 pm by Craig

I Really Wanted to Trade This Stock

technical analysis stock chart

I included a small hourly chart (inset) so that you can see what I was looking at. The stock was building support with a triple bottom pattern. I was convinced that this stock was going to move much higher.

But, I didn't trade it.

The market was a too overbought for my liking. And I know from experience that buying stocks in overbought markets is generally not a good idea!

What are your thoughts? Would you have traded this stock?

Beginners: Learn the Basics

Intermediate: Trading Strategy

Advanced: Swing Trading Tactics