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Monday, August 31, 2009 

Trade Idea for Tuesday - Encore Wire Corporation

Chart courtesy of www.stockcharts.com ( click to enlarge )

WIRE broke resistance today, hitting a new 52-week high. Today's high of $24,10 is resistance for the continuation move. The technical daily chart above shows the momentum indicators have turned up and the RSI is on the rise. For the short term the stock should still continue to go up. A close above $24.10 would have positive implications and could drive the stock much higher. Keep WIRE on your radar......

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's all Folks. See you tomorrow...
Cheers!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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