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Sear’s Holdings Buy Opportunity
Posted by Blain Reinkensmeyer
February 26, 2007 at 7:39 pm
After breaking out a few weeks ago, Sear’s Holdings (SHLD) has had a nice run hitting a recent high of $189.97. Now the stock has taken a quick breather and today closed at its 10 day moving average (not shown). I believe there is opportunity here.Support is definitely around the $181.50-$182.50 area, and buying in this range would be a steal on odds. Now, we may not get that good of price, but check out the MACD below and you can see the black line moving closer towards the red, when these two connect it an opportunity may present itself to get in.
If you don’t want to buy into potential support, then the next buypoint is with a break of $190. If you want to start accumulating now, I would place a stop around $179.50 for added room, and look to get in under $185 if you can.
[...] after posting on Sear’s Holdings (SHLD) yesterday with some technical analysis on the chart, I found this morning the delivery man came early! Here is an [...]