Submitted by admin on Sun, 01/24/2010 - 11:09
Posted in
The stock chart for ConocoPhillips (COP) has potentially formed a triple top. It has not broken through the horizontal support line, so it's not a valid pattern yet. See what happens. If it bounces up from the horizontal support line, consider going long. If you are considering going short read on.
Wait for prices to break through the support line. Once prices break through, you can generally wait for a pullback before going short.