WB Cup and Handle Trend Following
Weibo is a classic example of a GREAT Trade. First off Weibo was fundamentally strong
Furthermore depending on what type of trend following investor you could have added to your position. When pyramiding is only important to be prudent. Would not suggest adding more than 10% or possibly 20% on pullbacks…or return to test 50 day moving averages…or break out to new highs….
Patterns like WB happen all the time. We need to study charts in order to better learn trend following.