Here’s A Well Developed Trade
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Sometimes it really is ‘too easy’. When
both the stock fundamentals and the technicals ‘paint’ an interesting picture
within a well developed setup, it’s all you need to put on a very attractive
looking trade.
11:56:00
Intraday
Reversal SetupÂ
Artisan Components (ARTI)
has held price supports in the form of the 50-Day EMA for the past two sessions.
The pullback from the Year-To-Date Low to recent Highs has been formed
slightly under the 50% Fibonacci retracement level. Also important to note is
that ARTI has found support at 19, which marked a secondary offering of 3.6
million shares. With the stock consolidating in a Slim
Jim pattern off of this key support zone, triggers to go long, with well
defined risk, are set above 19.35. Current trade has the stock up .34 at 19.34.
13:44:00
Intraday
Update
Artisan Components (ARTI)
has established a Slim
Jim, almost a full point higher since our 11:56 post. This action which will
trigger continuation longs above 20.30 also has the stock setting up in a
“Kings & Queens” reversal candlestick pattern on the daily chart.
ARTI is now up 1.22 at 20.22.
We’re
a little bit further up the ol’ “trading tree”, but let’s see if the
‘trade logic’ works again. When the setup is there, “ya gotta be in it, to
win it”.
Chris Tyler
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