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  • LIVE(0) Replies

    Trade Ninja
    Bronze Member
    Join Date:01-10-2014
    El Paso, Texas
    United States
    Posts: 10
    Replies: 15
    LIVE3/4/2014 11:19:01 PM
    LIVE is another uptrending stock that looks like it is starting to move up.

    On this stock, I am looking for a short term play.  If you notice, the stock has been in a strong uptrend and has not yet had a major correction back down to the 50 day Moving Average.  Each time a stock continues up without pulling back to the 50 period MA, it gets a bit weaker.

    You will notice below that LIVE has had a very significant run up without a major pullback.

    If you look at the weekly, you will also see that the stock is continuing up without a correction.  This is an indication that a "major" move is not in the near future.  The next major upswing will only come after LIVE drops significantly.

    Here is the chart:

    What am I looking for in this trade?

    I am looking for a 2-3 day up move only.  I am hoping LIVE will move up to the prior high of $12, but I am going to get out quickly and try to make a quick in-and-out profit.

    I am a little bit worried about my trade as I was expecting the gap up day to finish closer to the high of the day than the low.  I purchased LIVE at $8.94 so I am a bit down on this trade.

    I will see how it goes tomorrow to determine whether I stay in the trade or dump it quickly.  I will know based on where the stock opens (you can tell a lot about what a stock will do for the day in the first 15 minutes of trading)

    Let's see what happens....Fingers Crossed! :-)