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Strategies & Market Trends : Charts & Scans

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To: Jeff Jordan who wrote (1474)4/2/2002 9:02:14 AM
From: John J. O`Reilly  Read Replies (3) of 5125
 
Jeff, Just want to let you know that Pristine.com has MSFT as the Play of the Week today. Has buy above first 30 mins high with stop at LOD or 1.00 down.
Trading Strategy: MSFT has been trading sideways for several days. Notice the Doji candle and bearish red candle that preceded it. Both of those bearish candles produced no further downside and that is bullish.

Tip: Bearish Extension candles that see no continuation are suspect and suggest that buyers are below.

The Play: We'll look to buy MSFT once it trades above the high made in the first 30-minutes of trading with our stop below the day's low or $1.00 away, which ever is closer to entry. Medium Risk.

Objective: Our objective will be $2.00 to $5.00 over the next few days.
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