Wednesday, January 30, 2008

Today's Chart

The markets are a bit overbought and that could bring some weakness tomorrow but if it doesn't, then this chart may work out. PLXS is almost ready for a breakout of this box. If the markets don't continue today's selloff then the buy point is somewhere from $22.90 to 23 or so. Look for unusually heavy volume as this happens. If other traders see this box then the move up could be quick and leave you behind. If the stock breaks out but the market sells off badly, then this could come back below the buy point so be sure to measure your risk and decide what to do if it happens. Support is around $21.45 so don't let this one fall too much under that.

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