Swingin’ Combo

  • May 16, 2002
  • Duke Heberlein

The combination of retracement levels and moving averages are often launching
pads for nice upside moves. The trick is to wait for follow through above the
prior day’s high.

 


5-13-2002


11:43:35

Harrah’s Entertainment (HET)
is bouncing off a 38.2% retracement and the 50-day moving average. HET is up
3.25 to 48.28 and is holding a

3-month relative strength rank of 84 with an uptrending

ADX of 42 from TradingMarkets.com.

 

 

The stock has continued after the bounce on range expansion, and
is nearly two points higher in the last three days.

 

 

Keeping an eye on the MA’s and retracements as they intersect
may be a good spot to start looking if you are a swing trader.

Until tomorrow,

Duke