What I suspect may happen here is a rest or minor drop back, which might give another re-entry point. For the long term goal of this stock, which was a price target of $7.25 over 4-6 weeks.
March 29, 2011
UNTD sell at $6.32 - 3% profit in 4 days
A modest gain on this short term swing trade, entered last week. 3% profit in 4 days from entry on the 23rd. Volume is dropping off and the trend looks weak and uncertain. Additional technical indicators that I don't trust this trend: trading on the upper Bollinger band (I interpret this as tension to the downside will pull the stock down quickly and without warning). Plus an RSI of 84. An RSI over 80 is one of my 'possibly sell' signals. An RSI of over 90 is 'you are crazy not to sell".
What I suspect may happen here is a rest or minor drop back, which might give another re-entry point. For the long term goal of this stock, which was a price target of $7.25 over 4-6 weeks.
What I suspect may happen here is a rest or minor drop back, which might give another re-entry point. For the long term goal of this stock, which was a price target of $7.25 over 4-6 weeks.
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