$COTY and $PLTR - a look back at this past week

was my first losing trade of 2021. But I wanted to go back and see what happened when compared to my winning trade on $PLTR.

As you can see both had great runs a few weeks prior. They both then consolidated, and bounced around the new volume shelf. On Friday however, one broke one way and one broke the other way. I would trade this setup again if it presented itself. I think most of the time this would break in the upward direction. It's possible that this was just a good old fashioned shake out, and it took out some stops below. There are more gaps in the run up on and it's possible some were pushing to fill those gaps? Not sure. Only other difference I could see was that closed below the 20MA the day before. was still above the 20MA. But it wasn't so far below to ring any alarms. Seems like typical chop around a level of interest.

Anyway, let's see if offers another entry later, but I have moved on and now looking at other opportunities.

Any thoughts on why broke lower Friday? Let me know in the comment, would love to hear other's takes.

CCInvesting

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CCInvesting

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