Olam International ( $2.62 )
Based on my trend following mechanical trading system, a fresh buy signal has been generated today. The trigger for this buy signal is at $2.65.
Based on classical technical analysis, prices have risen to a point where it is now facing resistance from an important downtrend line confluence by the 200MA. A decisive breakout from $2.70 is required for a trend change.
Trading Plan:
Entry : $ 2.65 ~ $ 2.70 ( 50% at $2.65, 50% at >$2.70 )
Target : $ 3.00
Stop loss : $2.45
No position should be taken without trigger being hit.
Labels: Stock Pick
posted by Market Wizards @ November 09, 2011
Comments: 0
