ACHN Daily Chart ~ Breakout Underway After weeks
Post# of 2559
Posted On: 01/11/2014 7:50:18 PM
ACHN Daily Chart ~ Breakout Underway
After weeks of trending in a channel while gradually rising along its support line, ACHN broke to new highs. Now the closing of the gap can begin. It's a long way up towards the 7.00s to close the gap, but has obviously been trending higher since early November. I have some friends who have been successfully swing trading ACHN using the channel lines. This time the stock finally broke above the resistance point, and three of them are holding decent positions. Next up is the MA100 at 4.10. A successful break of that, and the MA200 would be the next logical resistance. There should be some room to run yet as the MACDs have barely crossed. Trade smart. GLTA
After weeks of trending in a channel while gradually rising along its support line, ACHN broke to new highs. Now the closing of the gap can begin. It's a long way up towards the 7.00s to close the gap, but has obviously been trending higher since early November. I have some friends who have been successfully swing trading ACHN using the channel lines. This time the stock finally broke above the resistance point, and three of them are holding decent positions. Next up is the MA100 at 4.10. A successful break of that, and the MA200 would be the next logical resistance. There should be some room to run yet as the MACDs have barely crossed. Trade smart. GLTA
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