Market Overview

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 appreciation.  GTY is definitely one for the watch list for the coming weeks ahead.

Posted-In: Long Ideas Technicals Trading Ideas

 

Most Popular

Related Articles ()

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free