I like BTU as a longer term story but in the shorter term I can
argue the $24 level to be resistance. BTU has seemed to
respect its 20 and 50 daySMA's which it is taking both out today so
I would like to see those start to become support but you can also
argue for a close below $20.16 which is the recent lows and will
end up being the low for the weekly candle.
I don't know how much you have but my personal way (cannot
advise) would be to start taking some profits on a portion of the
position here (1/3-1/2) and then since I have locked in some gains
I feel comfortable not using the 20 and 50 MA's as stops and
instead will use the $20.16 recent lows.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Where to put stop on BTU?
Posted by harshblue on 7th of Sep 2012 at 11:27 am
Last time i bought, I had put a stop on broken downtrend line. But it went down through that line and now is bouncing back up.
Where would you put a new stop?
Or sell a call.
Posted by darnelds on 7th of Sep 2012 at 12:15 pm
Or sell a call.
I like BTU as a
Posted by tom on 7th of Sep 2012 at 11:45 am
I like BTU as a longer term story but in the shorter term I can argue the $24 level to be resistance. BTU has seemed to respect its 20 and 50 daySMA's which it is taking both out today so I would like to see those start to become support but you can also argue for a close below $20.16 which is the recent lows and will end up being the low for the weekly candle.
I don't know how much you have but my personal way (cannot advise) would be to start taking some profits on a portion of the position here (1/3-1/2) and then since I have locked in some gains I feel comfortable not using the 20 and 50 MA's as stops and instead will use the $20.16 recent lows.