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Jeff Pierce
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I’m a swing trader of momentum stocks with a holding period of anywhere from a few hours to a few months. I run a number of screens to locate the strongest/weakest stocks out there, using technical analysis to determine my entries and exits. Trying to calculate the intrinsic value of stocks in... More
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  • Daily & Weekly Analysis For CORN 0 comments
    Nov 8, 2012 9:19 PM | about stocks: CORN

    CORN could be following the script of my analysis from a few weeks ago. After it's big run-up from Jun-Aug it's really spent the last quarter digesting it's gains. Now all it needs is a "scary" sell-off down near the $44 level to wash out the weak hands completely and this should be ready to take off again.

    When viewing the weekly chart below you can see it's not a perfect cup/handle chart pattern but it's obviously bullish and constructive and looks like this should be higher a few months from now that it is today. If you wanted to play it safe and wait for the weekly breakout you could go that route as well. You would then wait for the first weekly close above any previous bar and buy there.

    (click to enlarge)

    (click to enlarge)

    Stocks: CORN
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