octradr

STAPLES... A HARD READ

BATS:SPLS   STAPLES, INC
114 1 0
Staples             has been a very interesting stock to follow. The weekly lines seem to give the best insight into it but trading by the daily chart is too risky. Most of the profits are already realized by the end of the day.

This is how I would play it... Use the 2 "BEST" lines as buy and sell zones, but enter and close the positions by using the hourly charts. Wait for the 8 day EMA to cross the 13 for the signals. By doing this I believe we can realize excellent gains.

SPLS             is closing in on the support line so if it crosses to the upside on the hourly "buy". I would expect it to get to 15.50 but use the 8 and 13 day for your exit point.

Good Luck.

1/12
It blew through the support today and didn't look back. I would guess a new downtrend but will wait and reassess. 1/13 after close
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