Looking at a buy order on Allstate above the high of todays close.
Price has formed an outside day bar, RSI and STOCH showing oversold signal and the market is in a strong uptrend. Price could retest 94-95 but I feel it is unlikely based on the PA. Volume is around average at just under 2 million shares traded. Price is hugging the 50ma so hopefully we will see some decent upside from here. A couple of recent downgrades have not concerned me on this trade.
TP 120
SL - 94
Price has formed an outside day bar, RSI and STOCH showing oversold signal and the market is in a strong uptrend. Price could retest 94-95 but I feel it is unlikely based on the PA. Volume is around average at just under 2 million shares traded. Price is hugging the 50ma so hopefully we will see some decent upside from here. A couple of recent downgrades have not concerned me on this trade.
TP 120
SL - 94