Trading Chat

UStream TV Feed

Saturday, November 15, 2008

Crown Holdings Inc (CCK)

Similar pattern, but might have another rally up to $18.50 (top of triangle, 20ema) before heading back down. If it either breaks quickly down below 52-wk low of $15.40, or recovers to $18.50 and fails to pass the 20ema, it’s a good short (and buy some puts). If this takes out $15.40, watch out – it could be a quick ride to the target of $10-11.

No comments: