As a rule I never play stocks under $30 but I caught this one today. The volume doesn't lie. There was a beautiful pennant set up followed by off the chart volume. A break above $5.70 on big volume could put this at $8-9. May need to breath a bit but keep it on the radar.
Wednesday, June 18, 2008
ABAT
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About Me
- upsidetrader
- I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.
2 comments:
Great trade bro. I do not know what your upside target is but I have some very good templates that are indicating that ABAT is overbought will close down tomorrow. So watch it closely I could be wrong but these templates are very accurate and they have been very reliable in spotting short term tops and bottoms. They protect my profits and keep me out of bad trades.
pp
thank, i day traded it so i will reevaluate today
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