MON chart- I used to work here as a Chemist lol, anyway I took a look at
the chart, it's been in a strong downtrend since Jan after it
topped out with negative divergence and the 60 period stochastic
gave a nice sell signal. However now I see some positive
divergence starting to form. Also the 60 period stochastics
is something to take note of for a trigger as well; also could be
working on 5 waves down.
Nice 70 cent bounce in MON since I mentioned it this morning, of
course the daily candle looks like nothing on the daily chart as it
still has a lot of work to do but I am eyeballing it for an
intermediate Long Trade since it's off the bottom and forming a
divergent low which is a lower risk than a breakout stock, but nice
move up this morning so far :)
MON trade idea
Posted by matt on 7th of Jul 2010 at 10:28 am
MON chart - I used to work here as a Chemist lol, anyway I took a look at the chart, it's been in a strong downtrend since Jan after it topped out with negative divergence and the 60 period stochastic gave a nice sell signal. However now I see some positive divergence starting to form. Also the 60 period stochastics is something to take note of for a trigger as well; also could be working on 5 waves down.
anyway one to watch for intermediate term trade
Nice 70 cent bounce in
Posted by matt on 7th of Jul 2010 at 12:13 pm
Nice 70 cent bounce in MON since I mentioned it this morning, of course the daily candle looks like nothing on the daily chart as it still has a lot of work to do but I am eyeballing it for an intermediate Long Trade since it's off the bottom and forming a divergent low which is a lower risk than a breakout stock, but nice move up this morning so far :)
MON chart
Great call Matt! Thanks again
Posted by piclez on 7th of Jul 2010 at 02:04 pm
Great call Matt! Thanks again for great setups.