Simlple Resistance Breakout - Simple Money
"AWK" Showed strong support/resistance, however was going to test the resistance once again. The best way to manage risk in this scenario is to form two positions as seen above, knowing that the stock will deviate from the resistance line once it meets/crosses. Unless news or another piece of compelling evidence sways your outlook in terms of breaking out of the resistance barrier, or continuing to fall within the support/resistance, short/long accordingly. Note that my first three posts were published privately, with no ability to change to public status. So in other words, forced me to republish the backdated version in current time.
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