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: chowder	3/25/2007 9:55:02 PM
	Read Replies (2) of 13449

HOLX is setting up an intermediate to long term buy set up. We have a rising 20 week moving average, above a rising 40 week moving average, with a comfortable distance between the two. This is a bullish alignment, and when you have a bullish alignment, you look for opportunities to go long. Near the end of January, a Wide Range Bar formed on above average volume. The Wide Range Bar broke out of near term price resistance. Old price resistance is now near term price support. The volume confirms professional money is accumulating. We now have a 7 week consolidation, and we know from Weinstein's methodology, that 7 week consolidations are usually what we want to see before breaking out to a new high. We now have the ideal set up to start the next leg up. Entry target $59.82. Profit targets $8.00 - $15.00. Initial stop loss $52.50.

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