Friday, June 17, 2011

EEE Trade Idea (Long)

This is a speculative trade, but EEE can move. The last run on a positive divergence was in December of 2010 when it ran over 700%.

Volume is low now, but during that run it was hitting 9.6 million shares a day.

 Here's the triangle with a slight break, usually a good timing indication.

 On the daily chart, this is the first positive divergence of the year, you can see the 2010-2011 run to the left.

 On the break below the triangle it looks like there's some accumulation in the white box on the 5 min chart.

 The 10 min chart shows the same.

Still, this is a speculative trade and I want it to show me something before I get too deep into the trade. I'll be setting an alert for a breakout of $1.90.

If you don't have a charting platform that allows you to set alerts, check out www.FreeStockCharts.com ,
the data is true real time there and it's totally free.

No comments: