Watch for $DWA Swing Long at 16.50 Dreamworks ani
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Posted On: 08/23/2012 9:53:32 PM
Watch for $DWA Swing Long at 16.50
Dreamworks animation is a beaten up stock and has been hammering on the 17 dollar support line multiple times this year. It may hold up but the safer bet is on a quick swingtrade at 16.50 should the price get down there in the next few weeks.
The last time the price was at 16.50 was on January 4th of this year, and it sparked off a move above 20 bucks. Although I don't expect a move back up to 20 bucks, should $DWA hit 16.50, I would think that it could give a quick 5-10% bounce in a matter of days.
I have this on my radar for my big board account.
[IMG]http://i.imgur.com/AQlfv.png[/IMG]
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