American Superconductor: Time to Take a Break

| About: American Superconductor (AMSC)

I am going to close out the last 0.3% of American Superconductor (NASDAQ:AMSC) as the stock seems to be in purgatory for now.

Thankfully our stop loss for 75% of the position hit in early February just under $38, and we've sold off a bit more since then as the stock has been acting poorly. The inability to rally on a day like yesterday, when almost all stocks were marked up regardless of prospects, has me somewhat concerned.

If we begin another "V" shaped recovery in the markets, I am sure AMSC will follow the pack, but there are stocks in far easier chart positions than this one and we can latch onto one of those as a replacement. Obviously, the 200-day moving average is providing quite the headwind at this moment. (Click to enlarge)

Disclosure: No position