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Strategies & Market Trends : Strictly Buy and Sell Set Ups

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From: chowder3/20/2006 8:06:12 PM
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3/21 SET UP ... SUNW ... Long Term ..................

SUNW is in a snap back pattern. After closing at a recent price high, price consolidated over the next couple of sessions where we have a momentum change bar today.

Often times, when a stock is showing strength, the "price" consolidation will last just two days as opposed to the 3-5 bar drop we look for.

The daily chart entry will also coincide with a weekly break out, so we should get additional demand coming to market if the price can trade up and hit the entry target.

stockcharts.com[h,a]daclyiay[d20051220,20060320][pb20!f][vc60][iut]&pref=G

Entry target $4.95. Initial stop loss $4.60. Profit target 55 cents - $2.00.

dabum
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