akap
Long

RAIL consolidation until late october

NASDAQ:RAIL   FREIGHTCAR AMERICA INC
  • Strong fundamentals
  • Rail has been moving the day after earnings for the past year, consolidating horizontally thereafter
  • Buy in the purple range, look for 2-3 bounces to the purple range (based on number of bounces to the red range) between now and late October
  • Look for current consolidation pattern to never leave the green-purple range during the bounces (if it does, rethink entry point/idea)
  • Should absolutely not drop below the top red line
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