Seeking Alpha

Robert Burger's  Instablog

Robert Burger
Send Message
Our goal is to educate traders to trade any market in any time frame by using technical analysis. This method can allow a trader to spot opportunities and understand the risk before entering a trade. It can also keep a trader in a trade allowing the trader to maximize their profits by staying in... More
My company:
chartingwallstreet
  • RDN Radian Group Technical Analysis Daily Weekly With Entry Points 0 comments
    Apr 11, 2012 2:38 AM | about stocks: RDN

    The weekly chart of RDN has produced a "peak C". Once a security reaches the "C point" it has a very strong probability of moving over it before completing it's pattern. This is especially true in weekly charts where each bar represents one week of price movement. Reviewing the weekly chart, should price move over the "C" point it will move towards the 200 day ema (blue line on chart). The 200 ema will act like a magnet pulling price towards it. The 200 day ema is at the 5.50 price area. Looking past the 200 day ema, there is large resistance in the 6.40 area. Should price move to this area, chances are it will be met by sellers that have been trapped in this security since early 2011.

    Posted below are the daily and weekly charts of Radian. The daily chart shows two possible entry areas to be considered. The weekly chart shows the third possible buy area. Should a trader enter a position at any one of these points they must use a tight stop.

    (click to enlarge)

    (click to enlarge)

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: long-ideas rdn Stocks: RDN
Back To Robert Burger's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers
Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.