How’s ’bout this for a bullish stock – 10 months of pure price resistance getting taken out in one fell swoop.
Rowan Companies (RDC) is pushing higher today in a breakout manner with a strong rising up trend providing support underneath.
There’s nothing not to like about this one – Here’s the trade setup:
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Refusing to take a loss when the trade has turned, and the reason for getting into the trade in the first place is no longer valid, is one of the biggest problems traders face.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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