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Bank of America Corporation Message Board

  • etailer_hot_tip etailer_hot_tip Jun 30, 2014 10:07 AM Flag

    Great Analysis from The Street chart analyst- "LIVE" is heading for $20s and $30s!! Big!

    If you look at the chart for LiveDeal, you'll see that this stock recently gapped up sharply from $2.27 to $5.34 a share with monster upside volume. Following that move, shares of LIVE pulled back to right around its 200-day moving average. Shares of LIVE have now resumed its uptrend, with the stock moving higher from that $3.45 low to its recent high of $4.94 a share. Shares of LIVE are now starting to bounce right off its 50-day moving average of $4.08 a share and it's quickly moving within range of triggering a big breakout trade.

    Traders should now look for long-biased trades in LIVE if it manages to break out above some near-term overhead resistance at $4.94 to $5.34 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 1.71 million shares. If that breakout gets underway soon, then LIVE will set up to re-test or possibly take out its next major overhead resistance levels at $6.24 to $7, or even $8 a share.

    Traders can look to buy LIVE off weakness to anticipate that breakout and simply use a stop that sits right below its 50-day moving average of $4.08 or around its 200-day moving average at $3.77 a share. One can also buy LIVE off strength once it starts to clear those breakout levels with volume and then simply use a stop that sits a conformable percentage from your entry point.

    To see more breakout candidates, check out the Breakout Stocks of the Week portfolio on Stockpickr.

    -- Written by Roberto Pedone in Delafield, Wis.

    Buying more !!!!!!!!!!!!!!

15.52-0.08(-0.51%)Sep 23 4:00 PMEDT