AI
Tuesday, January 22, 2013 11:30:39 AM
~AMBS - Bullish Chart Setup
"If you've been waiting for an entry or re-entry into AMBS, then this recent dip off of January highs may be it. I'm looking to take a small position in AMBS as the stocks chart is bullish and appears ready to move higher. I'm risking 2 or 3 cents per share to potentially make five or even ten cents per share. If we can buy in the .10's and sell in the .20's that would be the ideal double our money play we look for! Normally I buy breakouts, but in this case its already broken through the resistance level once and if AMBS can get through .115/.12 again; buyers could push it higher relatively quickly over a few days. Therefore, the buy opportunity in my opinion is around .10 here and we'll sell into the breakout and run. Otherwise a mental stop loss will be in place around the blue trend line in the image below just in case the bullish chart reverses and sellers take over."
"If you've been waiting for an entry or re-entry into AMBS, then this recent dip off of January highs may be it. I'm looking to take a small position in AMBS as the stocks chart is bullish and appears ready to move higher. I'm risking 2 or 3 cents per share to potentially make five or even ten cents per share. If we can buy in the .10's and sell in the .20's that would be the ideal double our money play we look for! Normally I buy breakouts, but in this case its already broken through the resistance level once and if AMBS can get through .115/.12 again; buyers could push it higher relatively quickly over a few days. Therefore, the buy opportunity in my opinion is around .10 here and we'll sell into the breakout and run. Otherwise a mental stop loss will be in place around the blue trend line in the image below just in case the bullish chart reverses and sellers take over."
