Posted On: 01/19/2014 9:20:33 AM
Post# of 2561
AA Weekly Chart ~ The Big Picture
As I have mentioned often, it's always important to look at the longer term trend of a big board stock that you are swing trading. When a stock is hitting new multi months highs, one should not hesitate to re-enter a position on a pullback of 5-10% should your daily chart show support levels there. Link back to previous Weekly Charts for my thoughts on the various horizontal resistance points along the way. AA just closed above the 11.32 which hasn't been seen since Oct 2011. Next up will be the 12.55 high and possibly a move into the 16.00/17.00s of mid 2011. Of significance this last week is the move and close over the MA200 which hasn't occurred since mid 2008. The is a strong indication that the stock will potentially be moving much higher over time. GLTA
As I have mentioned often, it's always important to look at the longer term trend of a big board stock that you are swing trading. When a stock is hitting new multi months highs, one should not hesitate to re-enter a position on a pullback of 5-10% should your daily chart show support levels there. Link back to previous Weekly Charts for my thoughts on the various horizontal resistance points along the way. AA just closed above the 11.32 which hasn't been seen since Oct 2011. Next up will be the 12.55 high and possibly a move into the 16.00/17.00s of mid 2011. Of significance this last week is the move and close over the MA200 which hasn't occurred since mid 2008. The is a strong indication that the stock will potentially be moving much higher over time. GLTA
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