November 10, 2015 11:48 AM | 1 min read
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.
Canadian Solar (NASDAQ: CSIQ) shares are trading lower by $1.17 at $21,86 in Tuesday's session. The Street is a non-believer in its better-than-expected Q3 earnings. The lone dissenter is Morgan Stanley, who initiated coverage on the issue today at Overweight and announced at $30.50 price target. After a higher open, it immediately peaked at $24.88 and started ti crater. The current high coincides with a pair of highs at the $25 level from mid-August. The ensuing delcine has taken the issue to $21 before staging a rebound. That marks the lowest level for the issue since it bottomed on October 30 at $20.49.
Joel Elconin is the co-host of Benzinga;s #PreMarket Prep, a daily trading idea radio show.Do you like this article? Do you have suggestions for improvement? Please email feedback@benzinga.com.
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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