Friday, August 12, 2011

Trade Idea PT (long)

I never thought I would post  Portuguese stock as a long, but it's telecom and we can't live without our phones anymore can we?

 This is PT's trend identification, red arrows=lower highs/lower lows, yellow arrows=nose which often precedes a reversal, the white arrow is our signal candle and the green arrow is a change in direction of the trend as its low is higher then the signal candle's high.

 Note the strong positive MACD divergence on the daily chart.

 My crossover screen gave a long signal, I expect a pullback to the red box, PT will be worth a look at that level.

Finally a vert rare MoneyStream positive signal; these are hardly ever seen on intraday charts, so it makes it all the more important. I would set some price alerts and keep this one on your radar.

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