Stock of the Day
My SOTD today is OptionsXpress (OXPS). I have written about this stock before, and have traded it on and off. Recently, I took a long position in the stock anticipating overall market strength and a rebound in the depressed shares.
Today, the stock is breaking nicely back above its overhead 50-day moving average, and leaving behind a double-bottom formation. I think this pattern bodes well for the stock, and indicates more strength ahead.
long OXPS
posted by J. Kahn @ 10:40 AM
1 comments
1 Comments:
That's a nice looking chart. I'd trade it solely off the pattern. Looks like it has 2-3 points before you start to hit resistance, though. If it clears 34, it could be off to the races.
On the fundamental side, is there really that much to differentiate it from every other broker out there? Do you or any of your readers use/know someone who uses them? I don't.
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