TSBTV#47 - Channeling Stocks
Posted on: April 6, 2009
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With the overall market having trended higher for the past few weeks, quite a few individual stocks have followed suit. Furthermore, with a big lack of rest during that time, the pace of the advances are pretty well-defined.
In fact, there are quite a few stocks out there right now which are channeling. A channeling stock is one which is bound by a trading range which marks support and resistance. Sometimes those channels are tilted and sometimes they are simply horizontal, but the implication is the same: in the short-term, count on the channel to persist until it’s broken.
So here in Episode 47, I’m going to point out a channeling stock to you and explain what I’m talking about. I’ll also offer some ideas on how to go about trading these kinds of setups.
(Be sure to click the full-screen option for best viewing.)
Hope you enjoy the show! Thanks for watching and subscribing, and feel free to post your ideas and comments down below.
Trade like a Bandit!
Jeff White
President, TheStockBandit, Inc.
www.TheStockBandit.com (Premium service)
www.TheStockBandit.net (Trading Blog)
