This Is Why You Should Pay Attention To A Narrow Range Bar
McAfee Inc (MFE) is
testing a support level after pulling back from the May 31 high. The
stochastic is now in the oversold zone, and the stock may be ready for a
recovery rally.
10:04:45 (from TradersWire) The clock is
3 minutes slow.
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Buy |
CC | buy stop at 17.38 | pullback | 17.24 | 17.57 | 17.35 |
TK |
Helped by strong retail sector,
Circuit City (CC) gapped above the upper Bollinger band at the open. Shortly
after 9:40, CC formed a tail and began to pull back toward the middle band. At
10:00 AM, the stochastic dropped into the oversold zone, and the 10:03 bar was a
doji (open=close). This could be a potential reversal situation. I placed a buy
stop at 17.38.
11:06:52
Follow up on CC (Pt 2)
The issue is now at the target price. Re-adjust your stop or sell your
positions.
If you have questions, feel free to
mail them to me.