StockFan26
Long

BTU long setup (Head and shoulder) on Daily chart

BATS:BTU   PEABODY ENERGY CORP NEW
285 4 1
Interesting head and shoulder pattern. Next resistance is a little over 1 point away but I can keep stop close for a decent reward-risk.
Got stopped out. Big sell off today
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I like the overall pattern, but I would choose different parameters for the trade.
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StockFan26 timwest
Thanks for your comment, could you elaborate on the parameters?
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timwest PRO StockFan26
Bases require a bit more time to develop. The volume on the down days back on May 13-14 suggested that there are still some strong sell interest in the stock. I think the way it is behaving now is more indicative that the sellers are getting out of the way. So, I haven't had much to say until today's low volume selloff. More comments to follow tomorrow.
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