RNW - Pullback trade
Updated
This trade is my standard go to trade.
I watch for a decent pullback to the 60%/40% zone and enter on the morning session open.
I am looking for oversold on the RSI Daily and a strong support zone to trade from.
I have both.
RNW is a strong company and has just purchased 3 more wind farms. Investors may be feeling the pressure of taking on more debt.
My Long-term view; I believe they have a strong management team that can turn these acquisitions to become profitable.
Short-term; it might be a bumpy road.
Did I enter too early? This remains to be seen.
I would hold this company for the next 5 years without much concern.
Target is 90% zone medium term (1-3 months)
If I am still come November I would expect strong sell-off in the profit taking month of November.
Stop loss is my standard 2%.
I watch for a decent pullback to the 60%/40% zone and enter on the morning session open.
I am looking for oversold on the RSI Daily and a strong support zone to trade from.
I have both.
RNW is a strong company and has just purchased 3 more wind farms. Investors may be feeling the pressure of taking on more debt.
My Long-term view; I believe they have a strong management team that can turn these acquisitions to become profitable.
Short-term; it might be a bumpy road.
Did I enter too early? This remains to be seen.
I would hold this company for the next 5 years without much concern.
Target is 90% zone medium term (1-3 months)
If I am still come November I would expect strong sell-off in the profit taking month of November.
Stop loss is my standard 2%.
Order cancelled
decent dividends, but nothing too exciting in price action. yawn.
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