Registered User
Joined: 12/5/2004
Posts: 49
|
We have all noticed how stocks can get range bound at times. Like all things, this can be good or bad, it is according to what mood you are in.
I am looking at ( MXIM ). Starting back in late May or early June, you can see how the 30 line is the magnetic pole. The 30 line has been attracting and repelling the price of the stock.
Houston, we have a line in the SAND.
This is Options expiration week and a lot of times, stocks seem to gravitate to the nearest 5 number, or the nearest 2 1/2 number. I believe ( MXIM ) is gravitating to the 30 line, which just so happens to be its line in the sand.
We are in a nice market here so the best stocks to be in are the ones with little resistance above them because they are all running free. My point is do not sell a resistant free stock to get into this one, because this thing does have resistance above, which means maybe a little rougher ride.
But, if you are looking for a stock where you want to know where your downside is at, then ( MXIM ) might be worth a look here, especially if it wants to gravitate back down to the 30 line tomorrow.
|