PKS Resistance
By Johns Wu on Oct 31, 2005
The chart for PKS lately has been looking good. It’s seeing a lot of resistance at $7.50, but buyers are swooping in everytime the stock falls toward the up-sloped support.
Play the break of either trendline, but make sure that the breaks are confirmed by at least 2x average volume.
Go long on a confirmed breakout above $7.50, and go short if it falls through the sloped trendline.
This entry was posted on Monday, October 31st, 2005 at 6:01 pm and is filed under Annotated Analysis.
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