After 3 years, I'm reaccumulating and holding SFL primarily for my dividend portfolio for fundamental reasons, however, I am using weekly charts to plan my potential take profit zones. I may adjust this plan if I see aggressive distributions at different price levels in 2024 or beyond. If the fundamental narrative holds out, I'm not afraid to average down in the 7-8 range, but I may exit the position if those accumulation zones do not hold and I am looking to harvest a loss. This is not financial advice; I am simply sharing for educational purposes and to practice my analysis.
Daily / Weekly trend validated using 12/26/200 EMAs
@Honkytime sorry for not seeing this earlier. Yes, I still held my position through the noise of June. I suppose I would have been stopped out in June if I had placed a reasonable stop loss, which makes this harder to trade IMO. It represents only ~1.5% of my dividend portfolio, so I just left it alone.
ctoph
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@ctoph2385 *Edit* I’m sure there are good traders out there that did make solid returns off this June- August move with reasonable hard stops, but I wouldn’t be one of them on my time frames. Still learning trading, so I don’t post about it 😅