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Friday, June 18, 2010

ENTR

This started out as a pretty promising day for breakouts, but it really fizzled in the afternoon. ENTR was probably the best of them, and was 3rd best in relative volume on the new highs list. This has got a lot going for it: a high price relative line, a consolidation along the 50dma, and a strong pivot point at 4.30. One thing I noticed here, which may just be coincidence, is something I have been noticing lately; after the breakout in March, it hit a high of 5.09 before it's first pullback. It hit an ultimate high of 5.87, which became the new breakout point. Now I haven't calculated it, but I will bet the mid point between 4.30 and 5.87 is damn close to 5.09.

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