Become An Artist
Trading is more of an art than a science. You have to read the action and
then follow the action, rather than try to dictate it. Patterns are only a tool
to help us attempt to determine a possible outcome.
14:01:24
Intraday Setup Alert
Pacific Healthcare (PHSY)
is trading in a
Slim Jim near the intraday low. If it breaks down it has room to move
lower and fill its gap from earlier this morning. PHSY is up 4.03 to 25.39.
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Here is a good example from today’s
Insights From the War Room. Pacific Healthcare
(
PHSY |
Quote |
Chart |
News |
PowerRating) has
gapped higher on an upgrade, but is now trading near its intraday low. The trick
here is to now wait for a breakout or breakdown. It has room to make a small
profit on a move to the upside, but the potential is also there to the short
side if it fails and moves in to fill the gap from this morning. Time will tell,
and waiting on the move out of the pattern will be the key to a successful
trade.
Have a great weekend!
Duke