CME 50 MA Support Trade
Take a look here at CME’s stock chart for a setup similar to Google’s at the 50 MA support.
If you are a believer CME stock will repeat the same trading activity as it did on November 27th, then you are buying CME right now as it sits at around $661, looking for a move back to $669 and the 50 MA intraday.
Click to view, click again to zoom
Any way you look at it these are riskier trades to make, and vice explains why I am observing and not buying. I will watch the intraday screen today of CME and perhaps post on it after the close if its results are worthwhile to share.
Let me clarify that I am speaking of a one day play here, what you do is buy the stock under its 50 MA the same day it trades under the 50 MA for the first time, then sell it as it rally’s back up. In the case of a long position on CME this is actually a pretty competitive buy point.
CME is trading at a real time last of $660.90 with the low on the day being as of now $658.30.
Discuss this post in the StockTradingToGo Forum or email us.
Subscribe To StockTradingToGo.com
- Professional Stock Picks and Tricks
- Weekly Blog Highlights
- Free Subscription to EPIC Insights!
Related Posts From the Past:
- Quick QID Trade Update, 0% Risk
- Stocks To Watch, Google and NYSE
- More Downside to Come
- Will BIDU Support Hold?
- Google Stock Shows Opportunity
Subscribe via Email
[...] CME 50 MA Support Trade [...]