Chart of the week
Date: 03/22/2010
Symbol: MED
Company Profile: Medifast, Inc., through its subsidiaries, engages in the production, distribution, and sale of weight management and disease management products, and other consumable health and diet products in the United States
Sector: Services
Industry: Specialty Retail, Other
TRADING PLAN
Entry price: short under: 24.31
Stop price: stop above: 26.80
Target: open for now
Chart explanation: I like weekly bear flag for MED. Closed with pivot bar under 20sma and buying pace is weaker then initial move down pace . Because of that I will look for selling conti9nuation. Previous low and 50sma is first support area. Expectations will depends on selling pace and volume.
If anyone have any question or need update feel contact me over email or in the live trading room.
Wish you all good trading!!!
Kind regards
Ivica
http://www.ivicatradingcharts.com/
Date: 03/22/2010
Symbol: MED
Company Profile: Medifast, Inc., through its subsidiaries, engages in the production, distribution, and sale of weight management and disease management products, and other consumable health and diet products in the United States
Sector: Services
Industry: Specialty Retail, Other
TRADING PLAN
Entry price: short under: 24.31
Stop price: stop above: 26.80
Target: open for now
Chart explanation: I like weekly bear flag for MED. Closed with pivot bar under 20sma and buying pace is weaker then initial move down pace . Because of that I will look for selling conti9nuation. Previous low and 50sma is first support area. Expectations will depends on selling pace and volume.
If anyone have any question or need update feel contact me over email or in the live trading room.
Wish you all good trading!!!
Kind regards
Ivica
http://www.ivicatradingcharts.com/
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