Today’s chart of the day is medical devices maker ARAY. The stock has pulled back to the 50 dma after a strong uptrend and is now oversold. This setup offers great reward to risk with a target near $10, entry around $9 and a stop around $8.75.
Subscribe to The Market Speculator by Email
With a 4: reward to risk ratio, you only need a 25 percent win rate to break even. All it takes is a 33% win rate to be profitable and if you are at 50 percent, you will kill it. This is my kind of trade.
Please retweet if you liked this article! Tweet
If you would like to learn more about how I trade, receive my nightly focus list with market analysis,setups and trade alerts, sign up for a 14 day free trial at BullsonWallStreet.com.
P.S. If you like this article, share it, comment on it or let me know.
Paul J Singh 
Leave a Reply