I cut my $DCTH position last Friday morning but price action showed strong closing by end-of-day. This morning, $DCTH gapped up so I decided to jump back in giving that Friday up-bar was a solid break-out from a symmetrical triangle.
I like the fact that today price-action took out the highs of Feb 5th, 2012 and Nov 7th, 2011.
Take a look at the daily $DCTH chart below:
There are profit-taking going on now but the momentum still linger as long as price action can stay above the highs of Nov & Feb.
I’ll be watching this one carefully so as not to give back too much profit.
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