Use The 8-Period EMA In Your Trading–Here’s Why
People say the market is
down because GDP report was less than expected, and many investors
are worrying about this weekend elections in Iraq. Really? Of course, I don’t
know the true reasons, but nobody seems to hold stocks over the weekend.
10:29:28
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Buy |
SNDK |
buy stop at 24.81 | pullback | 24.52 | 25 | 24.80 |
TK |
Strong stocks so often pull back to the 8-period
EMA and bounce off. This was what happened this morning with SNDK. It gapped up,
but could not sustain the momentum. After testing the 8-period EMA successfully
on the 5-minute chart, SNDK bounced off and took out a very short-term declining
trendline. We placed a buy stop at 24.81.
10:38:25
Follow up on SNDK
Sell half to lock in 10 cents. Move stop to breakeven.
T.Kamada
Feel free to mail me your
questions.
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