Twenty-Something
Where is a key area to look for uptrends to
resume and counter trend rallies to fail? The 20-day moving average.
13:52:17
Cymer (CYMI)
is staging a counter trend rally to the 20-day moving average. CYMI is up
1.48 to 37.14 and carries a
3-month relative strength rank of 9 from TradingMarkets.com.
Here is a point of inflection where moves will often reverse.
Do stock always reverse at this area? No, but that is why we
wait for follow through. Both day and swing traders can use this to their
advantage.
Until tomorrow,
Duke