This Is Why You Should Watch Narrow Trading Ranges
Yahoo! (YHOO) announced
a plan to buy back up to $3 billion of its stock. Yahoo! gapped up at
the open as expected. The stock is still up 94 cents at this moment, and it is
forming a narrow range at its 20-period EMA on its 5-minute chart. By the way,
this buyback plan is over the next five years.
10:05:16
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
Buy |
DRI | buy stop at 30.01 | Slim Jim | 29.86 | 30.25 | 29.94 |
TK |
Darden Restaurants (DRI) opened higher on
the better than expected earnings announcement. As you can see below, the issue
held at the intraday high and began to form a Slim Jim. The stock could be
setting up for a breakout, so I placed a buy stop at 30.01.
10:25:04
Follow up on DRI
It has hit our target. Close your position, or move your stop higher.
If you want to study the detail of this strategy, we have an excellent
course available by Kevin Haggerty.
T.Kamada
Feel free to mail me your
questions.
    Â
Â