Wednesday, January 29, 2014

Chartology: "$LUMBER Starts To Slumber"

From StockCharts:
$LUMBER has been a great story for the last 5 years. However, the roller coaster has been difficult for investors to watch. It's been a traders market. This week, we got a signal on the $LUMBER chart.
$LUMBER 20140129
The slope of the recent rise has been a lot more gradual than the slope of the 2012 rise. Importantly, $LUMBER looks set to roll over here with a confirmed cross on the MACD after the momentum flattened out in November and December.
Good trading,
Greg Schnell, CMT