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Tuesday, November 07, 2006

Chart Study - MA


Mastercard (MA) rise has been unstoppable since they announced earnings a few days ago and gapped up more than $10. Volume has also been higher the past few days. Today, it gapped up and OR bar was bullish. 2nd and 3rd bar consolidated the move and brought it close to 5EMA. Entry above 3rd bar high (which is also OR high). Nice climb supported by 5EMA along the way. Profit take at 1.38, 1.62 and 2.0 Fib ext. Lovely!


1 Comments:

Blogger gerimegaly said...

Hi, saw your comments over on Trader Eyal's blog...
I'm also blogging in S'pore. Just started my blog in the middle of last mth. I am trading US Index Futures mainly...
Maybe we can exchange links?

James
http://futures-trading.blogspot.com/

10:05 AM  

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