Tuesday, July 26, 2011

Trade idea: CA long

CA Inc. (CA) could be poised for an inverse head and shoulders breakout if it can confirm above the blue neckline.

Potential inverse head and shoulder on CA daily

I will enter this trade on a confirmed daily close above the blue neckline. If it closes significantly above, I will look to enter on a retest of the neckline. A close back below the blue neckline will negate the trade and initiate a stop out.

Target 1: 24.38
Target 2: 25.06

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