This One Stock Is Forming A High Probability Long Setup

Getty Realty Corporation Holding Co. broke its 200 SMA on the weekly chart last week running into overhead resistance at $19.50 from July 2012 highs. MACD is showing divergence in late 2011 now turned into convergence as shares make higher lows, an indicator of an uptrend.

Daily chart confirms $19.50 resistance level.  Should the stock breakout above this level, the uptrend should continue representing a high probability long setup.  The daily MACD had a bullish cross last week and is showing convergence with the recent price apprecaition.  GTY is defintley one for the watch list for the coming weeks ahead.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Long IdeasTechnicalsTrading Ideas
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!