Just getting comfortable with the format. Please dear non-traders, tune out these updates.
As noted in NFTRH 287, CORN was dropping toward a lower channel line. This morning what I think is a chart anomaly dropped it through the trend channel. It currently resides right at the lower line, just above the 50 and 200 day SMA’s.
I had noted CORN might be added back on a test of the trend line and that is what I am going to do. Risk is controlled below the moving averages.
Buy target: Trend channel bottom
Initial Target: Trend channel top
Stop Loss: Below SMA’s 50 and 200, as suits individual risk tolerance
Profit alert (reminder) issued on 4.25.14 with price above 35.
4.29.14: 4% Profit taken. Channel top target is still open for those willing to continue speculating.
