Trading Ichimoku

Despite beating the earnings estimate, Radware continues to face selling pressures after its earnings has been announced.

With the continuous selling, a bearish cross is sighted after it break the 2 support level at $22 and $21. I have since sold off my holdings at a loss after it breaks $21.

Currently, the price close right above the kumo support.

Personal Lessons:

A mistake that I make for my recent RDWR trade was not setting an auto stop-loss in place.

Not only that, despite I did make a profit prior to the earnings results, I was not willing to take it off the table; trying to bet that Radware will beat its estimates and it will go higher. The results : It went down.

In short, my lack of discipline and greed cause my loss for this trade.

- Reminder : Always have your stop-loss in place

- Reminder : Follow my chart reading strictly.

The previous post for a breakout to a higher high after earnings did not materialise.

The kumo provide critical support at $19.00 on opening and at this moment RDWR is rebounding off the session low.

Earnings report beats estimate and current price could be a good entry.

I see RDWR trade above $21 (support level) and with the leading kumo still trending up and the thick kumo support, I do not see this as a bearish trend.

However, if it breaks support, do be careful of a major trend change.

Note:

- Radware is having an Analyst Day on May 3 (Next Monday)

- Expect fresh analysts report to be coming out.

Radware is still holding near its high.

With earnings tomorrow, there is a likelihood that a cup-n-handle may form.

I am betting on a breakout on the high side.