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LIFC at a new high

By David Randolph · April 28, 2005 · 1 min read · 129 views

I love to buy stocks making 52 week highs. If they are climbing to a new high, with strong volume, demand is definitely outstriping supply.

Lifecell (LIFC) is one of those stocks, as you can see at the chart below. Two powerfull white candles to new highs. We know we have to buy, but we don't know when to sell, because there are no references from the past. This is new territory for LIFC.

Trading Plan:

1) Buy at the open
2) Sell with a loss is the stock closes two consecutive times below the blue trendline.
3) Keep monitoring the stock until we make a plan for selling with a profit

David Randolph
www.3stocksonfire.org

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LIFC at a new high

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