[quote=AN][quote=livinincali]AGNC got hit hard by resistance today. Gaped up to overhead resistance and got sold pretty hard. Definitely could be a case of the bounce is over, but we’ll see. It’s days like these in stocks that make it hard to time a bounce. How much do you let it pull back before you decide to sell.[/quote]4 days after hitting this resistance, it’s up another 2%. So, I guess the resistance wasn’t that strong, since it was up everyday since. It’s up ~9% from it’s recent month bottom on 11/14, but it’s still down ~2.5% from a month earlier. It’s down ~7% in the last 3 months and down ~1.5% in the last 6 months. But it’s up almost 13% YTD.
Also, it seems like CEL is back with a vengeance. Should have bought back in when it hit mid 8s.[/quote]
Huh. It’s trading off resistance levels again today. Basically it needs to trade and stay above 31.75-32 before I would call resistance broken. Today is the second time it’s taken a run at those levels and failed.
It could trade sideways for awhile and then take on those resistance levels or it might just end making a double top at resistance and resume a downward trend. I don’t know what’s going to happen. Seasonality is good for the market right now, so I’m inclined to believe the market will head higher until the end of the year but capital gains tax rates might be a significant hurdle.
