Tuesday, December 15, 2009

PEGA is showing a buying opportunity. VNR is at 52 week highs

Looking into the charts, I see PEGA as a potential buy due to the increasing
volume and breakout from a triangle on a daily chart. Click on this chart to enlarge it. There was a bottom in October 2008 and PEGA has been in an uptrend ever since. Is this a possible return to the uptrend? Let's move closer into the daily chart and see what it looks like.


I like the fact that the stock is still above its 200 day moving average which is the wavy dark blue line. I don't like the fact that the 55 day moving average is sloping down. The fact that the stock is back above its 55 day moving average makes me feel better, however. The triangle that you see on the chart with the aqua-colored trendlines is appropriate so I am going to set my buying opportunities near $31.60. Stop loss $28.98. T1 = $35.21. T2 = $37.20 T3 = $39.76
I also looked at VNR. This stock has performed very well. When panning back on its chart, one can see that this stock is at a 52 week high. Most stocks that are above this level continue to move above this level so entry near hear is great.



No comments: