freeus,
Re CPST:
<< Entry point would be when it trades above the HOD from today, or 39 1/2. CPST is at a critical juncture relative to its moving averages. >>
askresearch.com
askresearch.com
Never hit the entry. That's why I think it is prudent to not anticipate a reversal, but instead wait for the stock to make its intentions plain. So, two good criteria I think are to wait until the previous day's high is exceeded by 1/16, and also to wait for the stock to successfully test the 200 minute moving average on the intraday, and preferably to trade above this point, correct back to it, and rebound back up. At that point, the probabilities for continued movement up are very much in your favor.
From here if I were looking for a long position (which I am), I'd look for stabilization at the 50 day ema, or chart support at 31. Then, I'd like to see it trade up and over to the 200 minute and prove it can get through that resistance level. At that point, I'd enter the second it traded above the previous day's high, if those other conditions had also been met and also if the candles and technicals gave no contraindication. This means, of course, that you will miss some of the upside, but OTOH you now have probabilities strongly in your favor, and will be much less likely to get stopped out.
JMVHO, as always.......................
WS |
