AWK trade ideas
Testing support at bottom of channel AWK had quiet a drop in price over the past two days. However, price is still channel bound and is currently testing the bottom. If price breaks down through blue rectangle, which is bottom of channel and support bu the 50 MA then it will be confirmation that trend is reversing.
Awk, reaching a support areaWell, AWK is in a long uptrend, with the 50 moving average above the 100 EMA. The OBV is in an uptrend also. We do have a positive reversal in the OBV and prices.
We saw a long inferior shadow piercing the 100 EMA.
Above the max of yesterday would be my entry point.With the stop beneath the last minimal price of the last two days. My target is in 56,25.
AWK broken above November highAWK has been trending nicely on the weekly chart since the beginning of 2014. But on the daily chart there were two deep pullbacks (in August and October) which, although just within the bounds of acceptable, would've meant several months of little real profit.
However the overall trend is up - with higher highs and higher lows, so if you are comfortable holding a position for the longer-term this is not a bad stock. Volume is on the low side, but not excessively so.
