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Strategies & Market Trends : Strictly Buy and Sell Set Ups -- Ignore unavailable to you. Want to Upgrade?

To: sixty2nds who wrote (8983)	4/7/2006 4:56:24 PM
From: chowder	Read Replies (2) \| Respond to of 13449

Re: HPQ ... >>> Proposed entry $34.45 Stop order $33.53 1st profit target $37.50, 2nd at $41. Am I missing anything? <<< The entry target was great, it kept you out of a bad trade. If the trade had triggered, your stop was fine. I don't know about your price target though, especially the second one. In looking at the weekly chart, the 7 week consolidation following the wide range break out bar, had a $2.70 trading range. Add that to your entry target and your first profit should be at $37.00. So, you're in the ball park there. I don't know how you got your second profit target at $41 though, although there's nothing wrong with it. Resistance is actually up around $43 if you go back to 2000. Weekly chart: stockcharts.com[h,a]waclyiay[d20050407,20060407][pb20!f][vc60][iut]&pref=G Monthly chart: stockcharts.com[h,a]maclyiay[d19990407,20060407][pb20!f][vc60][iut]&pref=G dabum