TomProTrader
Long

CYTK: Longs From This Area Anticipated Short Term #Divergance

NASDAQ:CYTK   CYTOKINETICS INC
123 2 4
Friends,

Possible long from this level, using divergances as my justification, purely because I like to keep in practice with strategies, even ones like this, that I don't even use.

Hidden divergence in multiple momentum indicators, giving us an opportunity to buy off a dynamic support and a nice set of candlestick signals. The lower open and buybacks today, shows the bulls appear to be around, despite this fact. There is strong resistance at 7.90's, but I imagine profit taking will be happening before that anyway.

-Non-aggressive: RR @ 3.32
-Conservative: RR @ 4.29
-Aggressive (My likely choice) RR @ 6.37

Low price, low SL's, using tight SL's procedures on lower price stock optimises profit, without compromising a reasonable RR model.

Thanks for viewing.
Tom
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Great stuff here :D


Reply
Easy 7.30, and then reverse.
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