20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Shares of Invesco Mortgage Capital Inc. (NYSE:IVR) have been ripping higher, but the rally may be over.
In January, after a large move higher, Invesco's stock hit the $4.60 level. They ran into a wall of sellers and this put an end to the rally. A rapid and large sell-off followed.
Today, shares reached the $4.60 level and once again ran into a wall of resistance and backed off.
In the stock market, certain price levels can be important for a long time and this is a perfect example. If it can break this resistance level, there's a good chance that IVR begins to head lower.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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