SUPN - Expect further downward pressure before continuing higher
SUPNLH/LL since peaking at 23.30. From the chart, I don't see any evidence indicating this pattern has changed. There is convergence on the RSI. For now, I expect this pattern to continue.
I have been long since 3/21/2013. My average share price is $5.65. Hindsight...it would have been wise to have sold 1/2 of my position when price was over $20 at 300% gain.
I have a collar in place (insurance), but it is set to expire 1/15/16.
I like this stock long-term and do not plan on selling at this price. I am evaluating rolling my collar out further. I am also evaluating at what price i would consider adding to my position.
Unfortunately, this stock is NOT a good candidate to sell covered calls and I don't expect that to change anytime soon.
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