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.
