Day #3 · Bulls on Wall Street Trading

Day #3

Stalking this unglamorous water management company for a swing. Well-defined uptrend (higher highs, higher lows), decent volume (though not the million or more recommended here). Watching to see how, or if, it interacts with the 50 day ma. I run several scans to look for pullbacks; found this in one of them on 5/29 (my arrow on Think Or Swim chart). I would like to see MACD acting more constructively. Three major firms have buy or overweight ratings on it. It missed earnings estimate on 5/6, dropped and recovered; now pulling back again. If a nice hammer prints at the 50, and it closes above the 50 on near- or better-than-average volume, it's strong buy candidate.

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