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JE: Possible Long To Take Advantage Of At Key Levels
Nice little set of circumstances for a long trade. I believe that the uptrend was exuberant in all it's right... And buyers over time, will seep their way back into this stock.
1. Candlestick signal on the 200MA
2. We are retesting a previous resistance turned support line at the same level.
3. We have had new higher highs and higher lows.
4. We have been in consolidation for a while, and we have seen lovely buying over last day. This buying wave might be the wave to break through the minor consolidation zone seen recently and bring the price to further higher highs.
This higher high, (if proceeds off this level) is rather bullish because the price didn't need to hit long term support to get into continuation, continuation off this level shows the bulls eagerness for participation and commitment to the uptrend of the stock.
You can take advantage of very tight stop losses with this stock.
Tom
1. Candlestick signal on the 200MA
2. We are retesting a previous resistance turned support line at the same level.
3. We have had new higher highs and higher lows.
4. We have been in consolidation for a while, and we have seen lovely buying over last day. This buying wave might be the wave to break through the minor consolidation zone seen recently and bring the price to further higher highs.
This higher high, (if proceeds off this level) is rather bullish because the price didn't need to hit long term support to get into continuation, continuation off this level shows the bulls eagerness for participation and commitment to the uptrend of the stock.
You can take advantage of very tight stop losses with this stock.
Tom
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