Apr 17

Enter long Dresser Rand group $DRC

Entered $DRC on the mornings open. Glad I did not know that the day was going to be horrible. It may have delayed me entering. I did my plan Last night, but due to moving household I did not have the time to blog it.

Nothing has changed and it can still be entered on the open on Monday. The factors as to why I bought it are still the same and the buy in price is little changed.

So here we go with why we bought in.

  • Mid September 2014 huge volume and price jump.
  • Consolidation in narrow range for 7 months.
  • Monthly RSI above 69
  • New 50 day high.
  • Pushing exactly, to the penny, all time highs.
  • Daily RSI over 70.
  • Good risk reward factor 7%
  • Stop 78.61

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