Resistance how now become support?

Wow….talk about blasting through over head resistance…BOOM right through it and above the 50 day moving average. My original profit target was the 16.60 range….thinking price would stall at resistance…change of plans….Friday is ex-div day…so I am going to hold all my shares hoping to capture the $.24 on 2,000 shares… $480 coupon payment will be nice.

The indicators I use…MACD, TSI, RSI all have room before they become move into the over bought zone. These indicators work well as oscillators giving you hints when price as run to far to quick.

My key moving averages 5/20 are still below the 50 ma…that not good but moving quickly to cross it. I need the proper alignment of 5/20/50 to really get excited.

Long 2000 shares in $16.10 – $16.25 range.I am up $1,100 on share price ex-div day is 12/9/16

cefl127

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s