AXIATA Trade

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On 16 Apr 09, I posted AXIATA as a potential good trade. I will share with you how my AXIATA trade went.

ENTRY

AXIATA Weekly Chart on 16 Apr 09

AXIATA Daily Chart on 16 Apr 09

AXIATA weekly chart on 16 Apr 09 showed positive divergence between price and MACD although the 20-wk SMA still declining. AXIATA downtrend appeared to be coming to an end.
Daily chart showed pulling back to the 20-day SMA line after breaching the Bollinger upper band. AXIATA high on 15 Apr 09 at 1.81 was taken out on 16 Apr 09 giving a buy signal. I bought at 1.81 on 16 Apr 09. Stoploss at below swing low 1.72 and target at 2.20 gave the trade a potential 3:1 reward-risk ratio.

EXIT No 1

AXIATA Daily Chart on 27 Apr 09

On 27 Apr 09, AXIATA went up early in the morning but weaken toward the end of the morning. Similar price move happened in the afternoon. Volume was getting lower. AXIATA has not reached my target of 2.20 but because of the way AXIATA acted, I decided to sell half of my position at 2.10. Besides, it was also consistent to my take partial profit rule since AXIATA has increased by 16% above my entry price.

EXIT NO 2

AXIATA Daily Chart on 6 May 09

Took profit at 2.32 on 6 May 09 for my remaining position after AXIATA went below its previous day low. This gave me an average sell price of 2.21, which was within my price target.

Disclaimer:
Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investmest decision based on my posting and information presented in this blog.

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