Saturday, May 19, 2012

$ELN weekly chart and setup

26may - got that breakout of the downtrend that we were looking for from last week.. huge volume too, also broke above the 50day which is also positive, your next buy point to add is a break thru the recent high near 15.. if you got in on the breakout, raise your stop at least to above your breakeven to lock in the gain. would like to see a follow thru day on tuesday

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still no entry since last week. would wait for a break out of this downtrending channel, which will coincide with the 50 day, would need above average volume also before entering

follow me on twitter @mark_lexus for more free charts / trades and setups

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