AEZ 5.01.10

Posted by StockBuz on May 1, 2010 at 8:28pm in Long Setups

I'm intrigued by this Weekly chart of AEZ. Its perched at trendline resistance coiled up in an ascending triangle [bullish] and new all-time highs linger above. Many times stocks are drawn to such things like bugs to a zapper. Now I realize the market is poised for a correction here so I wouldn't advise going long unless there's a breakout w/volume which **could** happen with a push from higher crude prices - but just wait and see. Also, notice the large accumulation that just began four months ago. Funds? Buyout candidate? Who's to say but as I mentioned.........I'm intrigued.

Comments

Shawn mks May 2, 2010 at 5:41am

Nice long term rounding bottom as well don't follow this one.Looking at your chart if it can clear that downtrend resistance and hold it as slightly down trending support on any pullback ,would be a good entry or place for a stop if you buy early. If not I would look to buy closer to support at about that white line looks like a good place plus to keep in mind it last significant low at 5.50 about the green candle to the right of the second red candle, especially if the market corrects at all. If the market rallies I would look for that breakout set up.

Just my quick take KOS I was just Stopping by to say hello and change my password and such per E-mail lol.
You probably know this one a lot better then me I just took a quick look.

This reply was deleted.

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