Monday, September 20, 2010

Chart of the Day

It was hard to come up with Chart of the Day today as most of the nice set ups have already run up big and I am not an advocate of chasing stocks. But I think I did manage to find a nice setup that one doesn't have to chase much here. Today's Chart of the Day is AEZ. It managed to close above an important resistance level today on its third attempt.

Things get really interesting if one has a look at the weekly chart and one has to go back to 2005 to fully appreciate the importance of this level. Its a nice multi year cup and handle pattern! Watch out for this one in the next few days as it could really run.

Take care and good luck!

1 comment:

Tradermarket247 said...

boss I am with you on this one.