CTRP Setting up for a Buy
Just a quick note for myself really. Cleaned up my watch lists and added back some old favorites. CTRP is starting to set up for a possible buy. Pullback towards the 30day moving average with an uptrending chart, just entered into oversold territory. Will watch for the close price to rise above the 7 day moving average for a trigger, then confirm with company research to assess industry strength before buying.
ICE is also showing a rising 30 day moving average with a recent pullback. The price is strong at $100+ / share, which could encourage a good ROI on an options trade. Not quite into oversold territory, so the set up is not quite there yet.
Finally PCP is showing a strong chart with hints of a pullback. I’ll keep an eye on that one as well.
Interestingly, a lot of my old watch list companies are showing really strong charts with consistently rising trendlines…some evidence that the company fundamentals are strong, which is a pre-requisite for showing up on my watch list in the first pplace. (I Use Investors Business Daily ratings for my initial screen)
Suzanne @ March 17, 2010