Q: PIF dropped close to 22% this week with no news. It's technical support level is now a very weak $13.78 and today it closed at $14.60.
From a TA stand point it sure look like this will continue to fall through the bottom to the next strong support level of $8. Since my entry price was also only $8 I think I should just lock up my profit now and exit this name, even though I'm collecting almost a 7% dividend.
What is your recommendation in such situation? Even though I like this name I don't want to see so much gains vaporized. I can always buy it back later, right? Thanks.
From a TA stand point it sure look like this will continue to fall through the bottom to the next strong support level of $8. Since my entry price was also only $8 I think I should just lock up my profit now and exit this name, even though I'm collecting almost a 7% dividend.
What is your recommendation in such situation? Even though I like this name I don't want to see so much gains vaporized. I can always buy it back later, right? Thanks.