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 since 1986 and held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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