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Technical Trading Alert

Technical Trading Alert
TETRA Technologies, Inc. (NYSE: TTI)
Tuesday, November 10th, 2009

Tony Golan
Chief Technical Analyst
Stockprofit.com™
 



TETRA Technologies, Inc. (NYSE: TTI) is in a strong long-term up-trend.  The stock is making higher highs and higher lows above a rising 200-day moving average (the red line in the chart above).  Relative Strength Differential (RSD), our proprietary indicator for selecting super-strong stocks (the green histogram on the above chart), is back above the 25% threshold line, indicating the up-trend in TTI is once again moving fast enough to be considered as a candidate for a buy.


TTI made its most recent corrective low when it hit 8.68 in early October, marked as point 1 on the chart.  From there, TTI rallied to a new high for the current up-trend of 11.48 in late October, labeled as point 2 on the chart.  TTI pulled back, made a higher low, then turned back up again.  On Monday, point 3 on the chart, TTI rallied sharply to make a new intraday high for the up-trend and closed near its high of the day and slightly off the high of the day.  If TTI now goes back above Monday’s high, it will most likely run again.  

At a new high, this setup is good for a daytrade only.  Daytraders would want to buy TTI only when it goes .02 above Monday’s high, but not if it gaps up or triggers in the first 30 minutes.

Therefore, if TTI doesn't go above 11.53 before 10am EST Tuesday morning, place an order to buy TTI at 11.53 Stop Day.  Then, as soon as your order is filled, immediately place a stop order to sell TTI .03 below whatever the low of the day is at the time the order triggers.  Then, if the stock continues to rally throughout the day, keep raising your GTC sell-stop until the stock gets sold automatically or exit your position at the close.

New Technical Trading Alerts are posted almost daily.  We feature the hottest momentum stocks around before most people catch on to them.  Stay abreast of the market by bookmarking this page and keep checking back daily.



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