$HUSA trade off the table I have been watching
Post# of 69
Posted On: 08/31/2012 10:51:55 AM
$HUSA trade off the table
I have been watching $HUSA for a possible break out entry on a close above the 50 day moving average. However, price continues to decline and it recently closed below the 20 day moving average and is now chopping sideways in a bearish manner.
There will be a 20 day over 50 day bullish cross which may attract some traders, but I am looking for a deeper decline before getting involved. A move below 90 cents may get me interested as that would make the 80 cent support below not far away and give an easy reference point for a 10% stop out.
[IMG]http://i.imgur.com/k4YN3.png[/IMG]
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