I spend a lot of time working through scans and charts to find trade opportunities. Often there are more than I can conceivably take positions in. This can get even toughers when you have more than one chart in a space that looks ready to go. This type of clustering is another sign of support for the sector you are looking at which is a good sign, but it also makes choosing difficult. In reviewing my holdings and other opportunities I passed on, two charts that jumped out were $PII Polaris and $ACAT Arctic Cat. This was one of those times I chose the wrong horse! Looking at the charts below the performance difference is stark.
$ACAT was full of tells with a Cup n Handle with a big island in the middle. It also was sporting a RSI Positive Reversal inside the tight handle. my post walked you through every thing I saw here. I took the position a few days later. Unfortunately, I am sure my writing the post added to my bias when deciding which name to trade. As of Friday, my trade is still on and I am sticking by the plan as the stop has not been hit. That does not make me feel any better about making the wrong choice after watching both for a while, but that is part of it. No need to get down about it. All I can do now is look back and make a determination as to if there is something I missed that would change my decision next time, because there is always a next time and it will come sooner than you think.
(All market data above are derived from Stockcharts.com, Esignal, and Reutersdatalink)