This week has been somewhat of a 'normal' week for the world economy with considerable volatility. I've been monitor six (6) stocks this week and make the following comments:
RSG @ $1.555
This stock has broken through the previous resistance level, and retraced slightly. I will be Buying on the open, if above $1.60.
PRU @ $3.61
This stock has continued to trend well. I will be Buying on open, if above $3.60
IGR @ $0.545
This stock has met resistance at $0.56, and having trouble breaking through, this will most likely fall. Therefore, I will cease monitoring of this stock.
RMS @ $1.55
This trend appears to be failing, after meeting resistance. I will monitor for another week, but will most likely cease monitoring at the close of next week.
SLR @ $2.59
Stock has met resistance at $2.60, stock is forming a triangle with horizontal line at $2.60. We will monitor for a breakout.
TRY @ $4.47
TRY formed a new trough at $4.24 and was purchased at $4.50 with a stop at $3.80.
This week there are no new long stock that meet my trading method.
Although one (1) stock was found that could be a good short trade.
MEL @ $0.37
This has a long term down trend with a short term retrace to a resistance level of $0.40. This looks good for short trade, I will be Selling at open, if below $0.37
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