The typical opportunistic trade gone bad. I saw this as a good opportunity since MACD is turning down but believe that just like the current trend it will stay above the 22 day moving average.
My Entry was at 88.5 with a profit target of 95-96 for a 7% profit.
The stock never did move any higher than the price i bought it. Anticipating a correction could be underway on the weekly charts for the broad market, i made the decision to close this trade at 85 for a 3.41% loss.
Interestingly it is at the bottom of the channel. This trade decision might come back to haunt me.