Chart of the week
New!!!!
http://www.ivicatradingcharts.com/Mentoring.aspx
Date: 07/20/2009
Symbol: GMR
Company Profile: General Maritime Corporation provides seaborne crude oil transportation services worldwide
Sector: Services
Industry: Shipping
TRADING PLAN
Entry price: 8.50
Stop price: 9.06
Target area: 7.50-6.50 area
Chart explanation: GMR is obviously weaker then market and look like have “own way”. I will look for selling continuation and pull back from daily 10sma resistance area- Equal move is around $7.50 area and previous low is $6.50 area what will be monthly double bottom pattern. If market will start with weekly correction I will expect from GMR to continue with down trend action.
If anyone have any question or need update feel contact me over email or in the live trading room.
Date: 07/20/2009
Symbol: GMR
Company Profile: General Maritime Corporation provides seaborne crude oil transportation services worldwide
Sector: Services
Industry: Shipping
TRADING PLAN
Entry price: 8.50
Stop price: 9.06
Target area: 7.50-6.50 area
Chart explanation: GMR is obviously weaker then market and look like have “own way”. I will look for selling continuation and pull back from daily 10sma resistance area- Equal move is around $7.50 area and previous low is $6.50 area what will be monthly double bottom pattern. If market will start with weekly correction I will expect from GMR to continue with down trend action.
If anyone have any question or need update feel contact me over email or in the live trading room.
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