Chart of the week
Date: 11/23/2009
Symbol: HSC
Company Profile: Harsco Corporation provides industrial services and engineered products worldwide. The company operates in two segments, Harsco Infrastructure and Harsco Metals.
Sector: Basic Materials
Industry: Steel & Iron
TRADING PLAN
Entry price: short under 32.25
Stop price: stop above 32.74
Target: 31-30 areas
Chart explanation: HSC already start with new selling wave. Daily flag is broken and I’m looking for possible continuation setup. Found it with Friday action and continuation pattern. Day trade target is 31.50-31 area, while swing is more. If you look at weekly/monthly charts too you can see that HSC have room to see 29 areas what is 200sma on daily chart. HSC action will depend to market action. For start I will use daily CP setup and we will see what kind of pace and volume will be
If anyone have any question or need update feel contact me over email or in the live trading room.
Date: 11/23/2009
Symbol: HSC
Company Profile: Harsco Corporation provides industrial services and engineered products worldwide. The company operates in two segments, Harsco Infrastructure and Harsco Metals.
Sector: Basic Materials
Industry: Steel & Iron
TRADING PLAN
Entry price: short under 32.25
Stop price: stop above 32.74
Target: 31-30 areas
Chart explanation: HSC already start with new selling wave. Daily flag is broken and I’m looking for possible continuation setup. Found it with Friday action and continuation pattern. Day trade target is 31.50-31 area, while swing is more. If you look at weekly/monthly charts too you can see that HSC have room to see 29 areas what is 200sma on daily chart. HSC action will depend to market action. For start I will use daily CP setup and we will see what kind of pace and volume will be
If anyone have any question or need update feel contact me over email or in the live trading room.
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