From the Desk of Top Market Timer Mark Leibovit:
Gun shares on a comeback! Sturm Ruger (RGR) is a classic example of the kind of investment (trading) situation I look. Here we see a stock that has decline from the mid 80s to the mid 30s accompanied by negative press regarding future sales (which in my experience may not truly be the case). Wall Street is notorious for manipulating stocks, in particular driving them down in order to set up buying opportunities. More on this in my private mentoring programs. Looking the weekly chart, a Leibovit Positive VR was formed six weeks ago accompanied by a rising 5/3/3 stochastic - to key ingredients to trigger a buy. In addition, looking the daily charts, two downside gaps - one at 45.09 and one at 56.72 are providing upside magnets to price.
Find out more in this 3 minute video:
Happy Trading,
Jeff Gibby
Metastock.com
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