PDC Energy: Worth Another Try
Ryan Mallory | Sep 12, 2013 01:14AM ET
Sometimes a stock that you get stopped out on, isn't necessarily one worth shelving for the foreseeable future.
PDC Energy (PDCE) would fall along those lines I'd suppose.
It originally broke out in late August but hasn't done much since then. It has consolidated nicely just above that breakout level, and if it wasn't for that blasted gap down on 9/6 we'd still be in this position.
I really don't even like getting back in a stock I've been stopped out on, because I feel like there is a sense of revenge in my motives. So I guard heavily against it. As a result, when I notice how well the trade setup is after being stopped out, that is a very good sign for the stock.
Here's the trade setup in PDCE:
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