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Antonio Costa

Stock Picks For Tuesday: Encore Wire Corporation

By Antonio Costa on September 1, 2009 | More Posts By Antonio Costa | Author's Website

Chart courtesy of stockcharts ( click to enlarge )

Encore Wire Corporation (WIRE) broke resistance today, hitting a new 52-week high. Monday’s high of $24,10 is resistance for the continuation move. The technical daily chart above shows the momentum indicators have turned up and the RSI is on the rise. For the short term the stock should still continue to go up. A close above $24.10 would have positive implications and could drive the stock much higher. Keep WIRE on your radar……

Disclaimer: Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.

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