Kohls (KSS) breaking out of bull flag
Stock: Kohls Corp (KSS)
Long or Short: Long
Entry: $51.99
Stop-Loss: $50.59
Chart: Kohls Corp (KSS) Daily Swing Trade Setup
Reason for Trade: I took the trade in KSS after it broke out of a solid bull flag pattern. It also held up quite well despite the morning weakness from the broader markets, which tells me there may be a significant amount of interest for traders to the long side.
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Refusing to take a loss when the trade has turned, and the reason for getting into the trade in the first place is no longer valid, is one of the biggest problems traders face. In this video, Ryan Mallory discusses the pitfalls that comes with refusing to take the loss and instead opting to become a bagholder on one's trades.
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