[Entering Position in Greenbrier Cos (GBX)]
Dear Member:
The Greenbrier Companies (GBX) has crossed above the 18 day exponential moving average and MACD has turned positive. There is a gap to fill to just below $26 and the stock is trading around $24.40. A close below the 18 day MA would also make for a convenient exit in the event the play turns against me.
Since the stock trades an average of less than 400,000 shares a day and since there is heavy institutional ownership, I will keep my position relatively small.
I am placing a day order to buy GBX at a limit of $24.40.
DISCLOSURE: At the time of publication I have no position in the referenced stock.
Sincerely,
Bill Kraft
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