Season Of The Swing
Pullbacks to the 20-day moving average are a good place for swing traders to
look for pivots back in the direction of a strong trend. Just wait for the first
new high out of the pattern before jumping in.
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3-12-2002
15:37:07
L-3 Communications (LLL)
is pulling back to the 20-day moving average. LLL is currently up 2.06 to
111.24 and is holding a
3-month relative strength rank of 81 along with an uptrending ADX of 45 from
TradingMarkets.com.
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Higher priced stocks will often have the propensity for
multi-point moves. This position is still on, and has moved nearly 3 points
higher in the days since the alert.
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Keep these factors in mind when looking for swing setups. Many
new traders are scared of higher priced stocks, but they do have their
advantages.
Until tomorrow,
Duke