COST bounced off its 200 sma by more than a dollar today. It's looking like the moving average will hold and provide good support from here on. Keep a stop around 1 % below the 200.
Wednesday, February 20, 2008
Bad News, Decent Action; COST
Even after a weak open off of negative CPI data, the market rebounded and was able to close higher on the day. Financials paused and even flourished a bit, but I wouldn't expect too much more to come. Relative to what we have been seeing in the past few days though, this action's pretty decent. As long as we don't get any terrible news in the morning, an up day is a good possibility tomorrow.
COST bounced off its 200 sma by more than a dollar today. It's looking like the moving average will hold and provide good support from here on. Keep a stop around 1 % below the 200.
COST bounced off its 200 sma by more than a dollar today. It's looking like the moving average will hold and provide good support from here on. Keep a stop around 1 % below the 200.
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