XMSR presents a good shorting opportunity
Andy Swan created and
co-founded DaytradeTeam five years ago on a principle of empowering
individual stock and options traders with the techniques and analysis methods
typically reserved for elite professionals. His expertise in technical analysis
and commitment to educating members earned DaytradeTeam a top-ranking among
advisory services for several years.
Allegheny Technologies pulling back to trend line
Allegheny Technologies
(
ATI |
Quote |
Chart |
News |
PowerRating) is a very strong company in a
strong industry. The stock has rallied very nicely this year, and has followed
along a solid trend line for some time now. Recent downside market pressure in
most sectors has pulled ATI back to the trend line that has proven effective
time after time.
Will Mindspeed Technologies Inc pick up speed?
OK, here’s the situation. Mindspeed Technologies Inc
(
MSPD |
Quote |
Chart |
News |
PowerRating)
has been benefiting off the growth potential that lies within VOIP (Voice Over
Internet Protocol). Bulls eat growth stories for breakfast! MSPD formed a nice
up trend, then moved into an accelerated up trend. The stock has pulled back to
the accelerated trend line, as so many others have in the past few days of
weakness, and presents traders with an opportunity for some quick cash.
Day Trading XM Satellite Radio Holdings
XM Satellite Radio Holdings
(
XMSR |
Quote |
Chart |
News |
PowerRating) presents a nice
intraday shorting opportunity here. The stock was weak throughout the day
yesterday and created a nice looking down trend line. The reason I feel this
XMSR is a good candidate for a short is simple, it is lacking support. There is
minor support at around 22.70 and again at 22.15, but neither of these are
significant levels of support.
With a low priced stock like XMSR, you stand to make
substantial profits from a percentage standpoint with small moves. A play on
this stock presents a slightly higher level of risk, but as long as you minimize
losses with a relevant stop you stand to make sizable gains if the stock moves
in your favor.
Happy Trading,
Andy Swan