Enter @ 15.80
Exit @ 16.90
Stop @ 14.90
Monday, April 4, 2016
Alumex - Short Term Buy
There appears to be a momentum change in Alumex during the last few days. We can see that it broke through a resistance of 15.50. Although 15.50 is the present support I expect it to be strongly supported at 15.00. Based on the new developments in the counter I expect it to trend up and retest the gap fill at 16.70 and continue to hit 17.00 in the short term. Thus my trade setup is as follows:
Enter @ 15.80
Exit @ 16.90
Stop @ 14.90
Enter @ 15.80
Exit @ 16.90
Stop @ 14.90
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