WTS to Test Dec Gap?
Posted on Wed 10th Jan, 2007 09:58:44 AM
Watts Industries (WTS) looks like it so far has held up with $39 support, but check out the gap range that is just aching to be filled. The stock is already trading under the 50 Day Moving Average, or 50 DMA, and has seen some decent distribution over the last month. If the 50 DMA turns south, then that could spell trouble for this stock. If you want to play the support, buy into it as close to $39 as you can, place a tight stop, and see if u can get a move to $41. That should give you up to 4 to 1 on your money.
