Finding an Entry Point in AKS

07/17/2009 2:04 pm EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

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Many stocks have surged this week and completed continuation patterns on their daily charts. Most are now well above the recent lows where a reasonable stop could be placed. AKS is a materials stock that is up sharply this week. I would look for a 38-50% correction and/or a retest of the breakout as a possible entry point.

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