Thursday, July 30, 2009

GT (Long)...

In my seemingly endless series of stocks that move huge on earnings and break out of multi-month bases, today we have GT. It's extended following today's move, of course, but today's move was a powerful one. I'd look for a pullback towards prior resistance at $14 (dashed purple line) to start accumulating some long exposure here. As always, if that prior resistance fails to act as support for the price, then the stock falls back into the congestion pattern and is not ready to power higher.



Position: none

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