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.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.
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2 comments:
Jamie,
Did you ever post your Dummy style trades part deux?
LP
Hi LP,
Not yet, hopefully by this weekend.
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