GREY:SXRZF - Post by User
Comment by
Kruzer70on Jan 07, 2010 2:59pm
228 Views
Post# 16651195
RE: BACK TO 50DMA
RE: BACK TO 50DMAWhen you say hold what do you mean? Hold for how long? The stock just blew through the 50 dma today on strong volume. This 10 days (or so) after bouncing off very strong support in and around $2.90 which was also close to the 200 dma. $2.80 -$2.90 is also a support as indicated by candle stick methods. Based on todays action, logic would dictate a reversal of any short positions. In fact, the signal to cover any shorts was given 6 trading days ago or so.
If anything todays action is a buy signal which should be maintained with a stop at or around $3.15 (based on the stock action so far today).