[Opening Position in Wonder Auto Technology (WATG)]
Dear Member:
Wonder Auto Technology (WATG) has bounced up off both the weekly and the daily uptrend lines. DMI has turned positive and the price has broken above the 20 day exponential moving average. I am placing an order to buy a 1/3 position in the stock at a limit of $8.05. By a 1/3 position, I mean I am testing the water with one third of the position I would normally take with the intent of adding to if I see additional favorable movement and good entry point(s).
DISCLOSURE: At the time of publication, I have no position in WATG.
Sincerely,
Bill Kraft
P.S. The AFN has been doing extremely well this week. An alert to sell if it drops below $4 might be in order.
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