Trade Alerts Paying Off ………..Again
When I got the watch list from this guy there were a 3 stocks that I was interested buying but $RCON stuck out.
I looked at its chart I really liked what I saw. I saw everything I wanted before going long.
- surging volume (almost 5 times of the daily average)
- breaking new highs on strong volume
- $2-$6 range
- above 4EMA
- RS above 70 (currently 80)
Even though I wanted to go in for 5 hundred shares I settled to playing it safe (better safe then sorry).
Click the pic to blow it up!
So, I bough it on last Friday and if you look at the chart you will see that on that day it didn’t do much, but today it really started ripping after 10am.
It may stagnate for a couple of days as it did in the past; I actually wouldn’t mind a 2-3 day solid side-way price action; but after that (especially if it break new high) it can go to $5 easily and even to $6, and if it breaks the 6-dollar mark it could run up to $10 which was the high in 2009. But of course let’s be realistic here and just concentrate on another 10% gain which would propel the stock to a $5-dollar stock.
I’m really positive that the stock will move higher in the next days but I have a small position which makes it hard to really profit from. I currently hold another 7 different plays (most of them swings)
I play $RCON as a chart trade. If spikes above 4EMA I may sell a 100 shares or all of it and perhaps buy it back when it tanks and stays above 4EMA.
There are many different ways you can play $RCON. I recommend playing it as Chart play.
Remember I don’t do research I have this guy send me his daily trade alerts which is based on premium research!
This article is NOT INVESTMENT ADVICE!