Friday, July 21, 2006

ATHR Update - Bearish Rising Wedge

From last night's watch list.

2 comments:

New trader said...

Excellent call and great blog by the way. Did you get any? If so what was your entry and exit? Do you expect ATHR to go down furthur? Yep Im still new at TA but your site has helped me quite a bit.

Jamie said...

Thanks NT and all the best with your trading.

I've been watching ATHR for a while now and almost posted the chart on the watch list a few days ago but decided to wait. Last night I noticed that it traded down slightly in AH so I thought that the timing now favored a downside break. It was hard to get in the stock on the short side this morning because briefing.com put it on its "gapping down" list. But I persisted any finally got in a $16.80.

I was disappointed that the stock did not close below the low of the rising wedge. So for now ATHR is hanging on to support, however, they report on Monday AH and Jeffries has stated that they believe ATHR will likely disappoint in either earnings or guidance or both.

I've posted this as the trade of the day.