Equity Oracle: 12/23/2011

On November 9th an alert went out on Microsoft (MSFT) when I suggested a contingent buy if the stock moved up and closed over the 27.50 resistance area. The stock never closed over that price after the alert went out, and it was a good thing we set it up as a contingent buy, because if we had bought the stock when it was trading at 27.16, we would have lost money.

Yesterday the stock closed over the 20-day moving average, leaving a Doji Candle on the charts. The interesting thing about this particular doji is that the low touched the 20-day moving average and bounced. This gives us a support level at 25.48 that we can use as a stop loss area should the stock move against our position.

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About AJ Monte

As a premier trading consultant, AJ is one of the most sought after in his field. He teaches professionals specialized techniques on how to accumulate and protect wealth through innovative market techniques. TheMarke__404+

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