Missed Mardi Gras in Rio? Não Há Problema.
- Posted by Greg Harmon
- on March 7th, 2013
Mardi Gras was a couple of weeks ago but if you just could not find time to get down to Rio for the real celebration there is still a bit of Brazil you can celebrate right here at home. Brasil Foods, $BRFS, has been setting up in a long Cup and Handle pattern for several weeks. Thursday it broke a major trigger signaling a long entry.
The chart above illustrates the Cup and Handle. The target for the pattern is a move higher to 32.00. The trigger today came with a move over 22.81, the previous high from January 25th. If you need any more coaxing the Relative Strength Index (RSI) is bullish and rising with a Moving Average Convergence Divergence indicator (MACD) that has the signal line moving back higher and the histogram crossed to positive and Bollinger bands opening higher. Enter on a move and hold over 22.81 and look to stop it at the gap below at 22.05.
Join the Dragonfly Capital Views Premium Membership
Sign up here to get deeper analysis and nearly 50 trade ideas every week.
If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- How to Spot a Perma-Bear
- How Gold Miners Are Worse than Gold
- Starbuck Earnings Trade Ideas for Less Than a Pumpkin Spice Latte
- Premium Earnings 10-30-14
- How to Trade Baidu for the Earnings Report
- Premium Earnings 10-29-14
- SPYing Above the Treetops
- Earnings Trade Ideas for Facebook
- Premium Earnings 10-28-14
- The Clear View on the SPY