Tuesday, January 20, 2009

Pretty chart of the day: LVLT

Brian Shannon from Alphatrends has pointed out several stocks for short term trading and the one that caught my eye is LVLT.  This graph is showing the bullish "breakout-pullback-go" pattern.

Although it trades at near a dollar, the volume is pretty good at 20 million or so... enough to give it the necessary liquidity to trade.   Even with the over all market looking glum, this is one holding that can do well if the market recovers.  Brian recommends a buy if it goes above $1.26 and a sell-stop at $1.10.  Overhead resistance is $1.65 and if it breaks through, the target is $3.

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