Although I believe the market is overbought, I did initiate a long trade into the close Friday, 3/11. $OMC flashed an "Oversold Buy" signal. The name is above the 200 day long-term Chaikin moving average, having recently broke above resistance and currently re-testing, and re-testing with strong money flow, is a bullish sign. Also, relative strength, agrees with the Very Bullish Power Gauge. All in all, this trade meets all my rules, I would have liked to see a little more green with the Experts, but wasn't enough to keep me out of the name.
BUY +40 $OMC @78.75 LMT DAY
BUY +40 $OMC @78.75 LMT DAY
After a slow start to the year when it comes to trading long stock, I'm now holding four names in my portfolio, two of which I added in the last three days.
Are we going to break higher, or are we going to take a slight breather after a monster rally? I'm not sure we find out until after March expiration... but that'll come soon enough.
Happy Trading!
-AA
Are we going to break higher, or are we going to take a slight breather after a monster rally? I'm not sure we find out until after March expiration... but that'll come soon enough.
Happy Trading!
-AA
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