Read on to see an article from the archive of Clem's Building an Income Portfolio blog:
We Sold Drax
We have sold Drax. This is why:
The budget and changes to green energy pricing punched a hole in Drax’s share price which has been on a clear downwards trend. That slump was a knee jerk reaction and we caught the bounce.
We’ve bagged just over 10%.
Now the bounce has hit the falling trend it is continuing down. We waited for this confirmation and it’s been costly, but a profit is a profit.
I still like Drax as a share to watch but with the market falling and a correction, as ever on the verge in my mind, we are scampering off like a scared rabbit.
Here is a bit more of my thinking in pictures:
If and when it forms a flat bottom we will look to reenter. Likewise a big market slump will bring Drax into focus because a market fall will knock it for six.
Read more sample articles:
The Market Doesn’t Listen to Me