Don’t Have a Cow!
- Posted by Greg Harmon
- on July 23rd, 2013
So you got all excited about Apple earnings and watched as the stock did a slow grind higher after the report. What do you do now? Well don’t have a cow, man. On second thought it may be time for a cow. At least for a $COW ETF, the Livestock ETF. The chart below shows a large Cup and Handle developing. The target for a break out higher would be a move to 29.45. The Handle is just starting to turn up and the trade would be a safer entry on a move over the 200 day Simple Moving Average (SMA), but using a stop at 26.60 works here. The Relative Strength Index (RSI) has remained in bullish territory throughout this minor pullback and the Moving Average Convergence Divergence indicator (MACD) is improving towards a positive cross. So I guess Bart Simpson had it all wrong. Do have a cow man!
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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)
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