I continue to believe that the big money will be made on the short side over the next few months so I’ll focus on these trades more often. Today’s trade of the day is a short opportunity in Centurytel (CTL), a stock that took out support of the 200 day moving average with record volume on Thursday and Friday of last week but has been getting bounce, returning to test what is new resistance at the 200 day moving average. This retest offers a nice short entry between 45 and 46.
Disclaimer: I have initiated short trade in CTL today.
More on this topic
(What's this?)
Industry Analysis On CenturyLink, Inc. (NYSE:CTL)
(Penny Stock DD, 11/14/11)
Thursday’s ETF Chart To Watch: Dow Jones U.S. Telecommunications Index Fund (IYZ, T, VZ, CTL, S)
(Wall Street Sector Selector, 10/20/11)
Triple Timeframe Charting Crude Oil into the $100 Key Resistance
(Wall Street Sector Selector, 11/15/11)
Gold testing underneath resistance - believe it or not: chart views
(CHARTLINES (tm), 2/1/12)
Filed under Stock Trade of the Day by Tate Dwinnell
Leave a Comment