Chart of the week
Date: 06/15/2009
Symbol: TNL
Company Profile: Technitrol, Inc. produces precision-engineered electronic components, and electrical contact products and materials worldwide
Sector: Technology
Industry: Diversified Electronics
TRADING PLAN
Entry price: above 6.90
Stop price: under 6.10
Target area: $10 area
Chart explanation: Reason why I like TNL is small range on the daily chart and result of that is weekly continuation pattern. TNL have room for more upside move what we can see on the weekly chart. For ideal low risk setup I like to see longer daily base (until 20sma) but since range is very small I think that risk is reasonable with continuation possibilities. Pace is strong what suggest for more upside move and in setup case we must watch for volume, CCI and pace. I will move stop quickly because it will be “do or die” situation. If daily range will continue in to next week TNL will stay on my list.
If anyone have any question or need update feel contact me over email or in the live trading room.
Symbol: TNL
Company Profile: Technitrol, Inc. produces precision-engineered electronic components, and electrical contact products and materials worldwide
Sector: Technology
Industry: Diversified Electronics
TRADING PLAN
Entry price: above 6.90
Stop price: under 6.10
Target area: $10 area
Chart explanation: Reason why I like TNL is small range on the daily chart and result of that is weekly continuation pattern. TNL have room for more upside move what we can see on the weekly chart. For ideal low risk setup I like to see longer daily base (until 20sma) but since range is very small I think that risk is reasonable with continuation possibilities. Pace is strong what suggest for more upside move and in setup case we must watch for volume, CCI and pace. I will move stop quickly because it will be “do or die” situation. If daily range will continue in to next week TNL will stay on my list.
If anyone have any question or need update feel contact me over email or in the live trading room.
Open – closed trades
Wish you all good trading!!!
Kind regards
Ivica
http://www.ivicatradingcharts.com/
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