Look For This Pullback Pattern In Your Trading
Once in a while you
encounter a chart you don’t want to let go of. When you see it, you
know immediately this is the right one. You don’t have to analyze anything. It
jumps at you.
CV Therapeutics (CVTX),
from yesterday’s Nightly Daytraders Report, can give you a good example of
what you should look for in a pullback. The stock has been declining on light
volume. It tells me CVTX is going through a normal profit taking process. Also
CVTX tested the lower boundary of a gap zone successfully and formed a bullish
doji bar.
Currently, CVTX is trading near the day’s high at 22.52, up 1.92. At least you
should have taken a partial profit, and moved your stop to breakeven.
Have a nice afternoon session!
If you have questions, feel free to mail them to me.
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