Stock pick for 04/17/2012
W.R. Grace & Co.(GRA)
W.R. Grace & Co. engages in the production and sale of specialty chemicals and materials worldwide
Let’s start from monthly time frame. We can see small CCI divergence what will support short trade at this moment. On the weekly GRA broke under 10sma and have room to reach 20sma support area. Daily chart we can see under and also if we look at 60 min we can see reversal pattern if GRA will break under 20sma support. I use that 60 min situation for possible daily move and run to weekly 20sma support and it is around $52.50 area and because of that I use is for start. On this way I hope that possible 60 min situation can turn in to swing trade and I won’t look at it if bigger time frame charts won’t support that possibility.
Kind regards
Ivica Juracic
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