Sear's Holdings Ready to Break

Stocktrading101 · #1 (**permalink**) 02-07-07, 04:08 PM

SHLD.png

I love this chart, and think this stock is ready to take off past resistance. Had a nice accumulation day 2 days ago even though it closed in the middle of the day's range. I think I may pick some up when it breaks yesterday's high of $181.40 and set a stop in the high $170s.

StockJunkie · #2 (**permalink**) 02-08-07, 11:21 PM

Hey Blain did you see the move the stock made today? Looks to me that if not tomorrow than next week could be the breakout. The longer it lingers in this range though the worse overall it becomes.

Stocktrading101 · #3 (**permalink**) 02-09-07, 11:44 AM

Quote:

Hey Blain did you see the move the stock made today? Looks to me that if not tomorrow than next week could be the breakout. The longer it lingers in this range though the worse overall it becomes.

Well called StockJunkie, check it out

I am in at $185.56, lets see what happens.

Stocktrading101 · #4 (**permalink**) 02-09-07, 03:01 PM

Well, Fed warns of a rate hike, and the market tanks. I left for 2 hours and placed a temporary stop at $181.50, and just got home to find SHLD all the way at $180, lol. Could still be a legit breakout if it can close above $182.

aquaswim47 · #5 (**permalink**) 02-14-07, 11:15 AM

If I was a betting man, which I'm not, I would buy SHLD and short JCP (for price reasons). I really like JCP as a company and its management. It might grow where SHLD won't. No idea if that strategy would actually work.

Stocktrading101 · #6 (**permalink**) 02-15-07, 10:49 PM

Penney (JCP) has had a really nice run! I am upset I didn't find this chart earlier, beautiful pattern here, look at the accumulation days, and how the resistance lines are so defined. Also check out how the stock gained support at its 20 DMA before breaking recently to new highs. Very interesting.

JCP.png

Also, Sears Holdings (SHLD) closed today at $186.11, can't believe I was stopped out on this one!!