PLMO - Up From Here?
After continuous downward drifting since mid-Dec, PLMO has been on my radar for days now. (Trading Rules #1: buy on extreme weakness, sell on extreme strength) It reached an intermediate low (sub 21) on Feb 10th, re-test that low on 24th and successfully bounced off from it on the following days; Now it formed a bullish flag with 25 as breakout point. Thus for swing traders, day traders and intermediate term investors, a break of 25 on above average volume is the signal to board the train. For those who want to gain a little bit more with a potential loss of 2%, get in now and set your stop-loss at 23.3. If it does break 25, I expect it to fill the mid-Dec gap somewhere between 35 and 40. Good Luck!
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=plmo&sid=0&o_symb=plmo&freq=1&time=6
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=plmo&sid=0&o_symb=plmo&freq=1&time=6
0 Comments:
Post a Comment
<< Home