Chart of the week Date: 07/13/2009 Symbol: CTB Company Profile: Cooper Tire & Rubber Company manufactures and markets replacement tires primarily in North America and internationally. It produces passenger car and light truck tires for independent tire dealers, wholesale distributors, regional and national retail tire chains, and other large automotive product retail chains. Sector: Consumer Goods Industry: Rubber & Plastics TRADING PLAN Entry price: 10.50 Stop price: 10.00 Target area: 12.50-13.50 area Chart explanation: CTB forming daily and weekly triangle. I wonât expect weekly equal move but if market will bounce I believe that CTB can see weekly 200sma resistance area. It is obviously that CTB have own way for now and it is much stronger then market. On the daily chart we can see that5 10sma (brown line) is key support area for setup what I described on the chart. If anyone have any question or need update feel contact me over email or in the live trading room. Wish you all good trading!!! Kind regards Ivica
Stock recommendation Trading Strategy: I didnât find many charts for position setup and I donât have clear trading plan but I will follow DF. I like weekly/monthly consolidation after bounce from lows and look like want break up and it is important to follow monthly 10/20sma as key resistance areas. As always after setup it is important to see pace and volume and same will be with DF. I want to see how will DF react on possible market selling pressure and after nice daily bounce best will be to see pattern before setup. For now ideas is for buy above $20 number resistance area and stop is under $17.50 area but trading plan I will post on time in the trading room. I will send all updates and if anyone will have any questions feel free to contact me Ivica
I will look for exit. Most is already protected. Congratulations to takers Ivica Chart of the week Date: 07/13/2009 Symbol: CTB Company Profile: Cooper Tire & Rubber Company manufactures and markets replacement tires primarily in North America and internationally. It produces passenger car and light truck tires for independent tire dealers, wholesale distributors, regional and national retail tire chains, and other large automotive product retail chains. Sector: Consumer Goods Industry: Rubber & Plastics TRADING PLAN Entry price: 10.50 Stop price: 10.00 Target area: 12.50-13.50 area Chart explanation: CTB forming daily and weekly triangle. I wonât expect weekly equal move but if market will bounce I believe that CTB can see weekly 200sma resistance area. It is obviously that CTB have own way for now and it is much stronger then market. On the daily chart we can see that5 10sma (brown line) is key support area for setup what I described on the chart. Ivica
Stock recommendation Symbol: GMR Company Profile: General Maritime Corporation provides seaborne crude oil transportation services worldwide Sector: Services Industry: Shipping TRADING PLAN Entry price: 8.50 Stop price: 9.06 Target area: 7.50-6.50 area Chart explanation: GMR is obviously weaker then market and look like have âown wayâ. I will look for selling continuation and pull back from daily 10sma resistance area- Equal move is around $7.50 area and previous low is $6.50 area what will be monthly double bottom pattern. If market will start with weekly correction I will expect from GMR to continue with down trend action. If anyone have any question or need update feel contact me over email or in the live trading room.
Hi IvicaJ, thank you very much for the wonderful information. It really helps me a lot. Thanks a lot!