Multiple Increase?
Pattern setups are the bread and butter of the majority of alerts we profile
in the Insights From The War Room. It
goes without saying that not all of these are successful, and many are not
losers since they do not follow through, or as Dave Landry is fond of saying,
"no tickie, no tradie". One of the stocks profiled that did turn out
to be a winner was profiled on Monday, April 9:
14:30:48
MDU Resources Group (MDU)
is attempting to break out of a flag pattern. MDU has a TradingMarkets.com
3-month RS ranking of 92, and it is trading at 36.43, up 0.53.
MDU managed to peek out of the flag in the last hour of trading,
and swing traders benefitted the following day, when the stock gapped higher and
closed well for the second consecutive day.
Now the stock is forming another potentially bullish pattern,
pulling back into a pennant.
As you can see in the final chart, MDU is stacking signal upon
signal, starting with the gap higher and subsequent run up, then the flag. Add
in the strong closes and second pattern formation and this is a stock to
continue to monitor. Use the Insights From The War
Room to assist yourself in spotting stocks with these
characteristics, both to the up and downside, and you should increase the
likelihood of being on the right side of a trade.
Everybody have a great Easter weekend!
Duke
P.S. Please join Eddie Kwong and myself on Tuesday, April 17 for
a live audio forum on how to take advantage of the TradersWire.
We will be answering email questions during the broadcast, so
please send any you may have to dukeh@tradingmarkets.com.