Stock Chart Analysis SGR

Posted by downtowntrader | 8/27/2007 10:21:00 PM | 0 comments »

Stock Chart Analysis SGR

The Shaw Group Inc. (Public, NYSE:SGR)

SGR recently had a steep drop under the 50 day sma and has just made it back on declining volume. It is starting to form some narrow range candles and the 50 and 20 day sma's look like they will smother the price here. It could easily go back for a retest of the recent lows and make for a nice short trade. The stop loss area is pretty clear here too.

Good Trading,


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