BXS daily March 27th
BXS (Bancorpsouth, Inc) has been an Active Short Trade on the site since triggering an entry on a break below its primary uptrend line all the way back on July 17th. BXS went on to trigger a second short entry/add-on/sell signal just a few days later on an impulsive break below the large head & shoulders topping pattern, moving sharply lower from there until making a near perfect kiss of the second price target (T2) for a 18.1% gain.
From there, the stock immediately reversed but the trade has remained profitable since, recently reversing near the original entry price, and now looks poised for a resumption of a new thrust lower that will likely take BXS to at least the T2 area once again and quite possibly the third & final target at 18.30. While recently backtesting the original entry/breakdown level, BXS printed a clear & potentially powerful divergent high and just recently broke below a minor uptrend line as well.
click to here view the live, annotated daily chart of BXS
BXS will remain an Active Short Trade idea as well as a new Short Trade Setup, offering an objective entry or add-on around current levels, with a suggested stop above 23.70. I plan to update some of the other trade ideas on the site, including a few trades that have already exceeded their suggest stop levels.
Note: stopped-out trades will never be removed from the Active Trades category until an update is made & it has been posted that the trade will be removed. This helps to assure accountability as to prevent losing trades from just “vanishing”.
As my priority lies in finding new trade opportunities, updating active trade ideas, and providing the latest market analysis, stopped out trades will often remain listed in the Active Trades category for some time until I get the time to update the older trade ideas, often “batching out” the stopped out or stale trades (i.e.- those that may be profitable but no longer look compelling) in a single update. When using the Trade Ideas on RSOTC, always read the most recent comments associated with each trade. All posts on every trade idea, past or present, can be easily referenced via the symbol tagging system.