AI
Wednesday, March 02, 2011 10:50:29 PM
TLB Update #39:
Though the latest ADX pinch already resulted in a modest reversal for this stock, I'm staying in, because I believe it may have further to go in the near-term.
The pps still has a lot of ground to make up and its' been testing the mid 6's over the last couple of months.
It has been trading in a shorter range of late - and holding pretty well over the 20MA now.
Plus the CMF is in positive divergence.
It appears to be poised to re-test those mid-6's and if it breaks over them, along with the 50ma, I see the next resistance around 7.50.
Just a thought.
Though the latest ADX pinch already resulted in a modest reversal for this stock, I'm staying in, because I believe it may have further to go in the near-term.
The pps still has a lot of ground to make up and its' been testing the mid 6's over the last couple of months.
It has been trading in a shorter range of late - and holding pretty well over the 20MA now.
Plus the CMF is in positive divergence.
It appears to be poised to re-test those mid-6's and if it breaks over them, along with the 50ma, I see the next resistance around 7.50.
Just a thought.
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