My trailing stop for SVA was triggered at 6.79 as I move it higher when it spike up above 6.8+
One of my first mistakes when I started trading was not having protective stops in place. That needs to huge losses.
The habit of having a protective stop has saved me a number of times. The downside [...]
Sinovac Biotech (SVA) has rallied over the past few days with the broader market.
From the Ichimoku chart, we can see that it is now facing immediate resistance from the gap at around 6.78.
We can also see that the Kijun sen (purple line) is right at 6.78
SVA is on the move again. Given the overall weakness in the broader market, we have to be careful here.
I have previously mentioned that there is a chance that SVA will not go down further due to the subscription to its common share offering.