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$CENX | How To Trade ($CENX) (CENX)

By Thomas Kee
From Stock Traders Daily

$CENX | How To Trade ($CENX) (CENX)

The technical summary data tells us to buy CENX near 16.22 with an upside target of 20. This data also tells us to set a stop loss @ 16.17 to protect against excessive loss in case the stock begins to move against the trade. 16.22 is the first level of support below 18.33 , and by rule, any test of support is a buy signal. In this case, support 16.22 would be being tested, so a buy signal would exist.

The technical summary data is suggesting a short of CENX as it gets near 20 with a downside target of 16.22. We should have a stop loss in place at 20.06though. 20 is the first level of resistance above 18.33, and by rule, any test of resistance is a short signal. In this case, if resistance 20 is being tested, so a short signal would exist.

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