This Is Why You Should Pay Attention To Gaps
It takes time and extra
energy to overcome a gap. As you know, so often gaps become strong
resistance levels, and many traders use them to time their short sellings. But,
once a stock takes out a gap, it can give you an excellent trading opportunity.
12:10:05
(From TradersWire)
Apollo Group (APOL)
has moved out of a trading range on its 5-minute chart. Long APOL above 74.47.
Target is near 76. Risk 0.5. APOL is at 74.37, up 0.4.
Of course, you can buy the stock as soon as it
breaks above the gap. Why did I want to wait till APOL to move above 74.47?
Because, it was the recent high set on November 12. It might be a potential
resistance level.
Have a nice afternoon session!
Feel free to mail me your questions.