Monday, November 06, 2006

Technical Trade Ideas - Eagle Materials, Inc. (Public, NYSE:EXP)

EXP gapped up last week on blow out earnings. It has since consolidated its gap by carving out a shallow bullish base (U shape) at $40.00 resistance. The ADX momentum indicator has a very bullish steep curve as well. Look for a high volume break of $40.00. The short-term target is $42.50, followed by $47.50.

2 comments:

Misadventures said...

Jamie,

Did you ever post your Dummy style trades part deux?

LP

Jamie said...

Hi LP,

Not yet, hopefully by this weekend.