Easy Does it!

Today marks the 8th trading day price has printed above the 50 moving avg. This is very important if we are to see a sustained move higher. The 20 moving avg is pennies away from crossing the 50 ma and creating a proper alignment of the moving averages, 5,20 and 50 in order. If you look to the left hand side of the chart below, you will see the huge move up that happened after the proper alignment of 5,20 and 50. No clue if that will happen again, but it needs to happen to have such a move. We have serious overhead resistance in the $17.00 to $17.30 range. $17.00 is my new target. (see the double blue lines)

TSI and MACD have made higher highs but price hasn’t. (See blue circles and line) That is divergence. Price and the indicator are printing different. This tends to resolves by price breaking to the up side. The price in relation to the moving averages are pointing to the same move. Fingers Crossed. Next Friday is coupon payment date ($485)…that is why I call my blog easyincomereport.com….it gets no easier then the $485 (not to mention the $480 unrealized gain).

My long term goal is $2000 in easy monthly income from this trading system. That would be 9,000 or so shares. Think big!

cefl1217

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