If you read last week’s update Market Update and Recent Trade Commentary, then you’d know we were up on 11 out of 13 of our recent trade recommendations.
It’s time to cut losses on one of the losers.
Regency Centers Corp (REG) weekly
Price has violated primary support, the upwards sloping white line. I recommend selling it and taking the 8% loss.
If you follow price patterns, this is a good head and shoulders formation, another reason to sell. It’s probably a good short sell candidate now. I will keep an eye on it and let you know.
Small losses are part of the game. Accept them and move on.
Hold all other open recommendations.
Trade Smart,
Don