Thursday, November 29, 2007

 
Trading Ideas & Picks

El Paso Corp - EP - Ascending trendline

EP - Stock is trading near a long-term ascending trendline that has propped up the price since early 2003. Connecting a series of rising bottoms, as shown in the chart below, is a common method used by traders for gauging strategic points of entry. This chart is a text-book example of how a trendline acts as a level of support during a prolonged uptrend.

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