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Trade for LifeTM
Stock Pick of the Week From the VCM Research Department For June
25th, 2007 This Week’s
Pick Today's
play is a possible long swing trade from the daily charts on SK TELECOM LTD. (SKM). Sector: Telecom Services. Business Summary: SK Telecom
Co., Ltd. provides wireless telecommunications services primarily through
code division multiple access networking technology in
The Technical Setup: VCM buy set up on the daily chart. SKM broke out
all of a sideways consolidation on the daily chart late April and had a
powerful rally for two to three weeks. After a month of consolidating and a
partial pullback, the stock broke free again with four solid green bars, two
of which were bullish wide range bars (+ WRBs). This is the first pullback
since the break out with four lower highs and last Friday's bar being a
narrow range bar (NRB). The pullback has stalled right at the rising 20
period moving average. The Play: Traders can buy SKM as a swing trade over 27.20. With a
protective stop over 26.90. The target areas are 28.19 and 28.79. VCM Tip: The first pullback after a strong breakout is usually
buyable especially when it is near the rising 20 period moving average. Management Guidelines: For swing and core trades (ETF
plays follow core guidelines) can be found at http://www.vcmtrading.com/resources.php
Last Week’s Plays: MIR met entry criteria last week
and exceeded the first trading target and is almost at the second target. You are
receiving this because you have registered for our FREE services. You may
also be eligible for a FREE 10-day trial of our PREMIUM services. Simply sign
up at <http://www.vcmtrading.com/services_premium.php>. Please feel free to send any comments to services@vcmtrading.com Remember as always that you should not risk your own money unless
you understand and are comfortable with the position and you have a full
understanding of the risks of trading securities. |
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Please
keep in mind that all comments made by Velez Capital Management, LLC
("VCM") instructors and representatives are for educational
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for the stock observations was obtained from sources believed to be reliable,
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