[Opening Position in New Oriental Energy Chemical Corp (NOEC)]
Dear Member:
New Oriental Energy Chemical Corp (NOEC) has been rolling between about $5 and $6. It has just bounced up off the $5 mark and I like the stock at a limit of $5.12. 1st upside target would be $5.90 and initial exit in case I am wrong on direction would be $4.83 for a potential reward to risk ratio of 2.7:1.
DISCLOSURE: At the time of publication, I have no position in NOEC.
Sincerely,
Bill Kraft
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