I was going over my watch list and can't believe I missed this breakout a few days ago. It rushed out of the 13.87 resistance line and has had 4 up days in a row. This could be the sleeping tiger we have been waiting for. The MACD is in positive territory on both the weekly and daily and even though it has gone up substantially I believe right now is a good time to get in.
The hourly charts shows a support at 14.74 and this is what I would use as my first support. The support at 13.87 is much stronger but you have to weigh your own risk. I don't believe it will go down to that level so I think getting in sooner will be better than later.
The last 3 days the open has been near the lows. If you want to play it safe, buy right at open and put a stop at 2 or 3% below your buy. Worst case you lose 3% but you may enjoy the ride up.
I see that it has had bad press lately but I find there is more truth in the charts than the press.
HAPPY TRADING!!!
Kommentarer
octradr
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Nearing support around 15.80. 11/18
octradr
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It's about time. How high will it go?
octradr
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I don't know why it can't break 16. We will see how it closes today. 10/31
octradr
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13.87 is holding good as support. Keep your eyes peeled. 10/23/13