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Long

UFS second try?

NYSE:UFS   DOMTAR CORP (NEW)
20 0 0
I posted this chart before and was stopped out on a failed breakout. UFS             came down and tested prior support one more time before now trying to break out again. It would be good to have a little consolidation before a breakout for a better stop loss level. The monthly pivots come in right at prior support levels, so depending on momentum i would take R1 at around 48 as first target and then look for a move to the 50-52 area. Personally I will have to be careful not to enter early again, but there was definitely some volume coming in on the failed breakout. Also I would add that if we fail to break out again, a deeper pullback is more likely.

Happy trading!
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