Watch This One for a Buy Signal in the Near Future Dear Chart of the Day Reader, On Tuesday we looked at a possible buy signal on AMZN. Today, we’re going to look at another stock which is pulling back to its Keltner Channel midline: Trillium Therapeutics, Inc. (TRIL). The company develops therapies for the treatment of cancer. TRIL had already been moving higher when it broke out accompanied by a huge spike in volume. It quickly became overbought as it shot outside its upper Keltner Channel. Let’s see what the daily chart of TRIL looks like now: TRIL pulled back as profit taking came in, and the stock now appears to be headed back to the midline of its Keltner Channel. The midline is a prime spot to watch for a buy signal, and the minimum first level to watch, if the upside continues, would be the previous highs. Trade Smart, Michael Saul Analyst, Chart of the Day |
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