This week's stock focus:
Entry Profit Target Stop Loss Strategy
MCLEAN 0.24 2.26 0.200 Bounce off 20 day Moving Average, challenging new high
DNEX 0.335 0.365 0.310 Bounce off 50 day Moving Average
Most of the counters suffered downtrend for more than 1 month now, so I decided its time to spot for stocks that will technically bounce of Moving Average and with modest returns. Caution is required trading in next week's market as it is still in consolidation mode
Due to broad market is down. Pattern failure happens more often:
ReplyDeleteBounce off MA strategy failed for MCLEAN. Now trending to 50day MA support at 0.21
DNEX dropped off profit taking point. Currently holding thinly at 150 day MA.