Hot Stock Pick – JRCC 30% profit in 3 days – Closed
Source: http://recordpricebreakout.com/hot-stock-pick-jrcc-30-profit-in-3-days-closed/Posted on Saturday, September 27th, 2008 | In Market Commentary
Trade Overview
This is the first time since starting Record Price Breakout that I have followed a trade from initiation to close.
JRCC is a perfect example of stuccessly predicting price action due to the trend of the stock matching that of the overall market and falling into sync with the associated technical indicators.
The trade was opened after a correction during a strong downtrend hit the downtrend line, which also happened to match up with the 50 day simple moving average, making for serious over head resistance. The technical indicators all pointed to a continued downtrend making this a great entry point.
The trade panned out to a nice 30% profit in only 3 days.
Video
If you haven’t seen the previous update to JRCC, here’s a link to the first trade video
Updated Video with Trade Closure:
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 About Steve Warshaw (http://www.recordpricebreakout.com)
RecordPriceBreakout was founded by Steve Warshaw in July, 2008. Steve is a full time software engineer and aspiring professional technical analyst. Steve has contributed significantly to the development of several trading software and technical analysis programs including Track and Trade High Finance by Gecko Software. |
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