Thursday, August 4, 2011

Trade Idea-ROYL (long)

Royl is just breaking support today, which is often a sign of a reversal.

 The last run had a lot of accumulation, but even this time the daily chart has several months of positive daily divergence.

 This was the day before the last run up of 272%, it was an ugly day and just broke support as well.

 The 10 min chart...

The 1 min chart.

Of course this is a speculative trade and risk management should reflect that. I'd consider a stop below today's lows.

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