Closing The Deal
Fast moving stocks often do not pause for very long, and those that close in
the top of their range should be candidates you track in the next day’s action.
Yesterday we had our eye on Procter and Gamble
(
PG |
Quote |
Chart |
News |
PowerRating):
Â
13:46:19
Procter and Gamble (PG)
is pulling back from its high of two days ago. PG is now down 0.02 at 74.76
and has a 3-month
relative strength ranking of 81 with an uptrending ADX of 48 from
TradingMarkets.com.
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At the time of the alert, PG was trading below Tuesday’s high,
however the stock took that out and closed at the top of its range. This is a
signal of possible carryover to the following trading session.
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Get into the habit of looking at charts not just for the
pattern, but for also where in the range the stock closed. This can tip you off
for a sign of either continuation or change of direction.
Until tomorrow,
Duke
P.S. As several of you have requested, the interactive trader’s
room in TradersWire now stay open
until 5:00 p.m. ET so that you may continue to discuss trading topics with
fellow members.