21st April 2012 – It is time to withdraw $$ from Bank of America.

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses	Duration
	8.62				Profit	156 days

 

Reason for Buy / Sell / Short / Cover:

 

1. I cannot stand the way it dropped anymore. It kept showing weakness on the intraday chart.

2. After report announcement, it gapped up and then keep sliding down.
3. Daily chart showed that the 50MA line is no longer strong enough to hold the price drop anymore and now finally broke through.

 

Lesson Learnt:

 

1. I should have sold it when it broke the top head neckline on the daily chart. That time I was thinking that it might be a good opportunity for me to top up.

2. Might see a lot of rebound activity later at price range of $8.00 where we have 20MA and 50MA lines support on the monthly chart.

 

Intraday Chart

Historical Chart