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Wednesday, June 27, 2007

Stock Watch – MLM, PWR, B, PCLN, JCOM

One of my favorite setup is a bounce off a trend line after pull back. I like this kind of setup, because it usually provides a high probability & low risk entry for a swing trading. As we often heard, “Trend is your friend” and “Don’t trade against the trend”.

During the recent sell-off, many uptrending stocks have pulled back to their trend line or 20 MA, whereby historically such stocks would continue their upward moves after the pullback to that line.

The following are some of the stocks with potential bounce moves after the pull back, when the market starts to bounce up from the recent sell-off.









2 comments:

AJ said...

Nice charts! Thanks for sharing. PCLN does look promising.
AJ.

OPTIONS TRADING BEGINNER said...

You're welcome, AJ! :)