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Charts and Metastock: |
ANX was already mentioned several times by Saffeysite1 on the Stock Picking Board, but now it has attracted my attention…
Technical Overview:
ANX
developed a symmetrical triangle formation on the last months, the
breakout was made in mid-July, since then, the stock has been very
technical, trading inside an Ascending Channel, having good volume on
the up-moves, and decreasing it’s volume on the deeps.
Right now, ANX just reacted on the base of this channel.
The target of the symmetrical triangle is $4.39, which I believe it could be reached on the short term with the right market conditions.
Trading Setup:
I’m buying ANX today near the open.
The Target for this trade is the price zone near $4.39.
The
stop will be $3.19 (then, if the trade goes the right way, I’ll move
the stop to trailing stop along the base of the channel)
Best regards,
Frederick Ramsburg
www.3stocksonfire.org
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