Equity Oracle: 05/10/2012

Last week I put out an alert on HUN that was contingent upon the gap filling and a green candle forming after the gap fill. Yesterday the gap filled and today we are seeing a dragon fly doji candle that is bullish. We have pivoted up from the 20-day moving average and this gives us the go ahead to buy the stock. The first thing you will need to do after you buy the position is protect it with a sell stop below support. As you can see from the chart I’ve drawn, the support line from the most recent lows (around 13.60) and I’ve set my short-term target price at resistance (just below 16).

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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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