27th May 2011–Pattern Study–RDN

Ticker:

 

1. RDN

 

Topic:

 

1. Is this double bottom going to make it? ---- I seriously doubt it!

 

Lesson Learnt:

 

1. Not all double bottom will make it, be selective when you make the trade.
2. RDN definitely look very dangerous from the daily chart perspective.
3. If you follow my post at http://stockaki.blogspot.com/search/label/RDN on 20th April, you would have made quite an amount of $$.
4. Well, did I make the SHORT trade? Again, the stupid one is ME!

 

Intraday Chart

--- I think it is better not to look at the intraday chart. It may lure you in prematurely.

Historical Chart