This Is Why You Should Wait For A Pullback

  • September 13, 2004
  • Tsutae Kamada

So often an uptrend is interrupted by
a brief pullback, and this decline provides an excellent buying opportunity for
traders and investors. 

09:46:06
(From TradingMarkets TradersWire)


Daily Setup Alert


PACCAR (PCAR) is trying to take out Friday’s high, and looks ready to
resume the uptrend. PCAR is up 0.25 at 62.82.

After three consecutive days of down bars, PCAR formed a bullish tail just above
the prior high last Friday. This suggested the ending of a pullback from the
September 8 high.

Now, let’s look at the 3-minute chart from today’s session. PCAR gapped up at the open,
and shortly before 10:15 A.M., it successfully took out Friday’s high.

Don’t chase strong stocks, but wait for a pullback.

T.Kamada

If you have questions, feel free to mail them to me.

Â