Quiksilver (ZQK 4.64 ↓-0.22%) Inc (NYSE : ZQK) had rallied quite a fair bit ever since releasing their estimated 4Q results. The stock has initially dropped from $4.60 to about $3.90 before recovering to the $4.60 level. Base on current price, it is trading near the resistance level of the downward trendline as shown in the chart. Although there is a potential of it reaching $4.80, the risk/reward doesn’t seem really justifiable. It would be better to take profit on this counter now.
Original post from The Stock Trading Advisor.