Radware Ltd (RDWR) : Cross Tenkan sen

RDWR, as wtih other stocks, has rallied and move up.

Currently, it is trading inside the kumo and above its Tenkan sen.

Resistance from the Kijun sen (trend line) and the kumo.

At this moment, trading inside the kumo suggest that the trend is not established yet.

Most likely, RDWR will move up together with the general market. What I am looking for is for RDWR to breakout of the kumo with high volume.

This will give me an indication that it is ready to move up rapidly.


Radware Ltd (RDWR) : Bouncing off kumo support

Radware (RDWR) bounced off the kumo support yesterday and make it attempt to reverse its downward movement.

First target is around $21. Coincidently, the ‘small gap’ resistance at that level coincides with the Chikou Span support further back; highlighted by the 2 red circles.

I have support and stop-loss set just below $20.


Radware Ltd (RDWR) : Bearish Cross Sighted

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.