Invested Central Chart of the Day
|
Successful traders have one thing in common - they
maximize returns while minimizing risks. Each day our Chief Market
Strategist Tom Bowley selects a strong reward to risk candidate,
with fully annotated specific entry and exit points, that provides
you with a potential trade that's also highly educational. Subscribe to
our free newsletter and we'll send you a new chart each Monday
morning before the market opens, along with exclusive commentary and
analysis each weekend! |
|
Members can
click
here to view the Chart of the Day archives.
Chart of the Day for May 20, 2013: ST
ST is a $6.5 billion technology company that engages in the development, manufacture, and sale of sensors and controls primarily in the Americas, the Asia Pacific, and Europe. ST has been consolidating in a bullish continuation pattern - cup with handle - since printing its high in late January above $35.00. ST fell back for a few months before rallying into late April and early May, once again testing that $35.00 level. After pulling back into a handle, ST exploded on Friday, easily clearing $35.00 into the close. That breakout level at $35.00 is now solid support and would represent long entry. Our closing stop would be $34.40 with an ultimate target of $39.00-$39.50, representing the measurement of the pattern.
You should consider these educational charts and analysis for possible short-term trades only. We are not registered investment advisors and the following trade setups should not be viewed as investment advice. Accordingly, please check with your financial advisor before deciding to buy or sell any of these investment securities. Read our full Disclaimer below.
Because we do not recommend holding a stock into its earnings report, please check all earnings dates on Charts of the Day stocks before making a decision on whether to consider a trade.
|
