Here’s Why You Should Look For A Second Entry

  • August 25, 2004
  • Tsutae Kamada

If a stock is forming a
bull flag at the day’s high, you will be looking for a breakout to establish a
long position. So often strong stocks shape narrow trading ranges
before resuming their uptrend.

10:54:58

Intraday Setup Alert


Autodesk (ADSK) is forming a narrow trading range at the day’s high on
its 3-minite chart. ADSK is up 0.54 at 42.92.

As you can see below, ADSK made a bull flag near the day’s high, but it did not
give us the result we were looking for. After successfully  testing its
rising 20-period MA, the issue began to move out of a pullback. Around 11:15 AM,
the issue took out the intraday high and exploded.

Don’t give up your stocks too soon!

T.kamada