Glovemaker, still early to tell but now is Defensive mode.
Defensive mode is where you locked all your profits that you have made and you wait for that 30-40% pullback to buy and then sell in rebound.
No confirmation that the parabolic move will continue until a decisive breakout above previous all time high.
In this case, it will be better to be cautious, take profit and make the assumption that it is over.
It is too early too tell, we need to wait for few months to see how the price action looks like but this month doesn't seems good for glove makers. Very likely it will be a long consolidation phase before another major move or maybe it is already game over now.
It also depends on global market and how Nasdaq is going to do, I suspect the global market is heading into correction and it will take FEW MONTHS before Nasdaq can break and be above 10000 comfortable. Regardless, we are focusing on the long term trend, not short term noise.
That's the reality, trading and investing is all about PROBABILITIES and RISK MANAGEMENT, not about ego.
P/S: Don't pm me because I don't have time.
No confirmation that the parabolic move will continue until a decisive breakout above previous all time high.
In this case, it will be better to be cautious, take profit and make the assumption that it is over.
It is too early too tell, we need to wait for few months to see how the price action looks like but this month doesn't seems good for glove makers. Very likely it will be a long consolidation phase before another major move or maybe it is already game over now.
It also depends on global market and how Nasdaq is going to do, I suspect the global market is heading into correction and it will take FEW MONTHS before Nasdaq can break and be above 10000 comfortable. Regardless, we are focusing on the long term trend, not short term noise.
That's the reality, trading and investing is all about PROBABILITIES and RISK MANAGEMENT, not about ego.
P/S: Don't pm me because I don't have time.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.