Thursday, March 08, 2007

Technical Trade of the Day - Continental Airlines, Inc. (Public, NYSE:CAL)

CAL is a technical trade. As highlighted last night, CAL is setting up for a breakout on a breach of $38.00. In the meantime it attempts to bounce and sets up a perfect rising channel breach. Don't take the trade immediately on the breach as these types of setups are prone to bear traps. Wait until price takes out the previous bar low.

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