[Entering Position in Sypris Solutions (SYPR)]
Dear Member:
Sypris Solutions (SYPR) has bounced off a multiple bottom support and seems to be completing a reverse head and shoulders. DMI has turned positive and the stock has broken above the 20 day exponential moving average. I like the stock at a limit of $6.55. Initial exit will be on a dip below $5.90 where there looks to be pretty decent support. The stock only trades an average of a little under 60,000 shares a day so liquidity could cause some concern and volatility could be high.
DISCLOSURE: At the time of publication, I have no position in SYPR.
Sincerely,
Bill Kraft
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