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.
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