Strictly Buy and Sell Set Ups Message Board

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Strategies & Market Trends : Strictly Buy and Sell Set Ups

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From: hubris33	5/10/2006 1:00:55 AM
	Read Replies (2) of 13449

Dabum & others....a couple of charts which might qualify as Swing Trades. CBG a strongly up trending stock with a 20 dma rising over a 50 dma and a nice distance between them. After a two day pull back to support (also into the 20 dma) at the beginning of the month, CBG has been stuck in a range. While most of the candles are filled-in I note a series of higher lows. While the price has been in the range, the volume has been inching down each day. This has the look of what Farley calls a 'coiled spring' and today's trade range qualifies as a second NR7. The play would be on a breakout of the range. I've got a target of 91 to 93. stockcharts.com In the 3-5 day pull-back department I offer SLB. SLB had 4 days of pull back off of a recent high, into support near 70.65. The stock is in a strong up trend as shown by a rising 20 dam over a rising 50 dma and a nice separation between them. SLB reversed the pull back today with a nice open candle. NYSE stock with a price over $40 and volume over 4MM shares per day. Nice healthy RSI on this one. stockcharts.com Anyone have comments or see something that I don't see? Warning signs, positive signs? H3

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