Bookkeeping: Cutting Dr. Reddy's Laboratories by 2/3rds as Chart Weakens

I cannot find any specific news on Dr. Reddy's Laboratories (RDY) and it was not down a material amount in India overnight, so I am not sure why it is being hit so hard in the U.S.  Whatever the case, the past 2 sessions it has weakened considerably and if it closes where it is as I type, it will have broken the 50 day moving average on a closing basis for the first time since mid May.  That is always a concern and the general policy when this happens is reduce exposure and then watch what it does next. Hence I am going to shoot first and ask questions fourth and cut the position back by 2/3rds and wait to see if the stock can regain its footing.  (I lost under 2% on these shares - but gave up some nice unrealized gains)  If the name continues to struggle in the coming week or two I'll most likely close out the remaining position; if it can quickly regain its footing I'll get back the portion I just sold at higher (but "safer") prices.

Long Dr. Reddy's Laboratories in fund; no personal position