CRI has risen throughout most of 2013, but recently has struggled.
This period of weakness has allowed CRI to revert back close to the price support established in early September.
Given the MACD and RSI readings, it appears that CRI is positioned well for a low risk, high reward entry.
Tom’s Take: Consider entry at $72.80 and $71.75 with a closing stop beneath $71.00. Our target would be the recent high, which is slightly above $77.00.
— Tom Bowley, Invested Central
Take your trading to the next level! [sponsor] See for yourself what thousands of traders already know — the Invested Central Method works. Get full access to Tom Bowley’s daily market insights, live trading room, and our extensive Technical Analysis training library, along with additional trade setups each weekend. Click here to learn more!
Disclaimer: You should consider these educational charts and analysis for possible short-term trades only. We are not registered investment advisors and the Trade of the Day should not be viewed as investment advice. Accordingly, please check with your financial advisor before deciding to buy or sell any of these investment securities. Because we do not recommend holding a stock into its earnings report, please check all earnings dates on stocks featured before making a decision on whether to consider a trade. Invested Central’s staff may take long, or short positions in stocks, bonds, and other financial contracts on which they comment.