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Charts and Metastock: |
It came to my mind I should buy something on this space for the 3 Pennies on Fire Portfolio, and CWPC.OB passed my exploration and filter. This stock is truly trending higher as you can see on the all history chart below.
Over the short term, the stock made a big push and then retraced to the 61.8% retracement level, and now is pushing higher again with volume above average.
There has been some significant news but I won't go deep into them in detail, I believe TA works very well, so I'll stick to it.
Here's the simple trading plan: buy CWPC.OB at the open and the safety net is a close below the 61.8% retracement which stands at about $0.76. The reward is that the uptrend continues to a new all time high above $1.35 (which would trigger a technical target of $1.94).
(This recommendation was made by David Randolph from 3 Stocks on Fire. 3 Stocks on Fire is a Community of stock traders and investors. Our 2814 members change trading ideas and strategies on our message boards everyday. We welcome you as a new member of the 3 Stocks on Fire Community, please take 10 seconds to register and receive our free newsletter)
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