This Is One Way To Spot A Directional Change
When a stock forms a
cross-like bar, it sometimes signals a directional change. Yesterday
Yahoo! Inc (YHOO) shaped a small cross just above its rising 20-day MA,
and it appeared ready to rally out of a pullback.
10:31:32
(From TradersWire)
Yahoo! (YHOO)
is trying to take out yesterday’s high. Long YHOO above 35.40. Risk 25 cents or
use the 20-day MA. YHOO is at 35.30, up 0.21.
It sounds too simple, but because the stock is uptrending, I try to buy as soon
as it takes out yesterday’s high. Also, pay attention to the direction of NASDAQ
market. It helps to establish a long position when the market is moving in the
same direction. Shortly after the alert, YHOO moved above yesterday’s high.
Have a nice afternoon session.Â
If you have questions, feel free to mail them to me.
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