NMX which I recently recommended after it made a higher low has now hit and bounced off resistance at 142.50, prompting me to issue a sell signal. There are two ways you could do this. Because NMX still may break from its range, you could only sell half leading you to catch the breakout if it happens. However, the stock could go down as well, leaving you losing money. Or, on the other hand, you could sell your entire position at resistance and take the quick profit racked up in the stock. Then, if the stock breaks, you can buy the breakout or retest.
Two other stocks I've been watching are now buys.
CELG is coming down slowly but surely. Remember to pull the trigger around 56.25 and stop out below the 200 sma.
SFLY is a buy here as it consolidates. It is forming a little square consolidation pattern, offering a range to trade and a possible break. Buy at 23.15.
That's all for now.
CM
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