So-So? No! 50-50
Fifty-fifty may mean a one in two chance for many people, but for me it means a possible bounce.
12:33:34
CBRL Group (CBRL)
is hitting the 50-day moving average and a 50% retracement level. CBRL is
currently down 1.05 to 19.03 and is holding a 3-month
relative strength ranking of 92 from TradingMarkets.com.
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When a stock hits the convergence of the 50-day moving average
and a 50% retracement level, I like to look for a short-term bounce in the
direction of the recent trend.
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This often will be the case, as it was with CBRL Group
(
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Both day- and swing traders should be aware of the “50-50” zone.
Unitl tomorrow,
Duke