PPO Stock Trade This week I'm looking to begin the accumulation of PPO (Polypore International Inc ) and in terms of trade ideas this is looking like a an excellent trade. Notice the box highlight on the bottom daily trend line of the wedge in the price area of the chart. This area is the ultimate entry area, but at this point I'm simply looking for a better price. Right now we are right on the upper trend line and I don't want to be a buyer against that upper trend line. We've got the stochastic indicator in an oversold level and we've got price at ¾ completion of the entire patterns grasp. Everything looks good on this for another longer term hold up to target 2 at $48.90, but I'll be looking to start taking some profits at target 1 or $41.80. Another Important factor is the Weekly trend line that you see in red below price pattern. This can easily act as a magnet so we want to be aware of this when looking to place our trade. The closer we can get the better so that we can minimize risk on this trade.
Disclosure: I am long PPO.