This Is Why You Should Pay Attention To Long-Term Support Lines
Look at the daily chart
of American Power Conversion (APCC) below.
It finished right at an important support line. The stock could be ready for a
recovery rally.
10:17:02 (From TradersWire)
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
| Buy | APCC | buy stop at 21.78 | breakout | 21.58 | 21.95 | 21.74 |
TK |
Now, let’s see the 5-minute chart
from this morning. After testing the daily support level successfully, APCC was
challenging the 38.2% retracement level. This was a potential breakout
situation. I placed a buy stop at 21.78.
10:36:49
Follow up on APCC
Sell half to take a 10 cent gain. Move stop to breakeven.
T.Kamada
Feel free to mail me your
questions.