ATY as potential CAE buy and hold?
Just to stimulate some discussion, here is the weekly chart of ATY. As you can see, there are many similarities to the CAE weekly chart a short time after the buy signals.
stockcharts.com[w,a]wacayymy[pc20][vc60][iUb14!La12,26,9!Ll14]
So, some questions for discussion.
Would this be a good candidate for a long term hold strategy like Cush described with CAE? If so, why. If not, why not?
If so, would you just take a position now or wait for some sort of entry signal? If wait, what entry signal would you like to see?
I guess my take on this is that this would be a potentially good candidate, but I would be worried about resistance around the $15. level. I would use a shorter term strategy until the $15 level had been cleared and tested with a pullback that stayed above that level. Then I would consider switching to the longer term hold strategy.
My entry? Hmmm, several possibilities there. Might just take a partial position now with a stop below the recent swing low. Add to position when stock successfully cleared $15 with pullback. (entry after pullback).
Note, I haven't actually done this, but given the strength over the last few days of tech stock weakness, I may actually consider it.
Okay, let's hear from the rest of you.
Tom |
