ODP trade ideas
Another trend to followAs we can clearly see, in the past we have made higher highs and higher lows.
Now we are at a crutial point, since the last high is not yet broken. if thats the case, I believe we are ready to go all the way to the top of that channel again.
So if price goes above something like 5.80 I have my entry trigger and place my SL somewhere around 5.45 $. Why is the SL so far away? Well, we do have a long trend, a strong trend, but we are close to a support line, and lots of other SL's will be close to that. So if the support breaks it will catch lots of SL's of other traders, and price will fall a bit more, before recovering. To not get stopped out by other peoples SL's, my SL will be a bit below theirs.
Understandable? Disagree? Let me know!
ODP: Office DepotTechnical Trade:
(1) MACD up
(2) RSI bullish
(3) 50% pullback from the high and measured from the low.
(4) Bullish Flag pattern
(5) Bullish candle sticks.
I am recording this trade. The targets are on the chart, but I am not going to actively manage my stocks. I am focused more on trading foreign exchange; hence, a weekly chart and longer time frames for stocks.
Buyout of Soul And Vibe, Inc (SOUL)There are rumors among major shareholders that Soul And Vibe (SOUL) is interested in selling. I think a deal may already be in the works.
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Nice revival for a move in the direction of the gapIf we break with nice volume on this one could be a nice ramp up, is a higuier float stock so It isn't a big runner
ODP: Levels for the BullsLooks like downtrend is getting more volatile with bulls showing life, I have 2 levels I am interested in joining the bulls at
