Saturday, February 11, 2012
February 11, 2012 (WPZ)
Williams Partners LP
Chart Type: Daily
How I'm Trading WPZ: WPZ is a great example of a stock that is bouncing off its 50-day MA. I have also drawn a trend line that follows the trajectory of the stock. Both are hit 3 times. Also, notice the stochastics. For each point that the stock price hits the white trend line, the stochastics are under the red line, signaling it being oversold.
My buy signal here is anytime the stock hits the 50 day MA or trend line while the stock is oversold and stays above the trend line/
My sell signal here is when the WPZ's price closes the day below the trend line.