When a stock is acting like QBE is, I find it best not to try and guess when a good time is to jump in with a whole parcel. I try and average in, QBE could easily bounce from here or continue down to $16, Which is around a 15% drop, I find it best to try and average in so that if it does go to $16 I am not forced to sell out and then watch it rise.
I took a parcel at 19.25 and I have a OCO order in at $20.10 and $18.05, I will also have funds available if it does reach $16. This way i am covered. Something to think about anyways.
On a technical note, There is a gap on the charts dating back to the march lows i think, If the share price reaches $18.05 (i think) this gap will be closed, I cant imagine the share price going so close to this and not closing it. I think it will turn sharply after that.
QBE Price at posting:
$18.66 Sentiment: Hold Disclosure: Held
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