octradr
Short

MW fighting to hold highs!!!

80 4 0
LOOK AT THE WEEKLY CHART AND YOU WILL SEE THE CYCLE! It has historically taken between 3-4 months to make the move all the way down but you would be looking at gains over 20% The MACD has been a great indicator of this cycle and the fact that it has been under the 50 day EMA so often lately shows that it is losing its steam. A great entry would be if it rebounds closer to 38.50, but you have 3 months to figure it out. HAPPY TRADING!!!
octradr
3 years ago
This may be a good time to start a short position. There is a gap resistance at 38.40 so risk is very minimal. I would still place the stop closer to 39 just so you don't get stopped out, but that's your choice.
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octradr
3 years ago
That couldn't have worked out better. 9/13/13
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octradr
3 years ago
Still looking good. 9/23
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octradr
3 years ago
Ok. Time to take the profits. 9/30/13 after hours
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