Momentum Takes A Rest
Two points in one day might
seem like a dramatic move. But, for
growth stocks that have been consolidating within larger daily patterns, quite
often the first consolidation pattern within a momentum issue represents a
high-probability way to play the trend.
10:41:39
Intraday
Setup Alert
Metrologic Instruments (MTLG)
is trading in an intraday symmetrical triangle
on 1.16 times average volume, as it trades up over 2 points at 41.89. Triggers
above pattern resistance are currently set above 42.10.
It’s not always easy to hop on
board one of these high flyers (and it’s not for everyone), but if you do happen
to find one of these stocks in a classic pattern, it might be worth more than a
casual glance.
Chris Tyler