DBA continues higher

The PowerShares agriculture ETF (DBA) keeps on moving higher with a gap at the open today. It continues to print very large candles and displaying relative strength against the broad market and other sectors.
For that reason, I took a look at other agriculture stocks and found Amira Nature Foods (ANFI) to have a very interesting chart. It had a very large reversal candle last Friday, so I am waiting to see where it settles after the spike. But I would be looking at starting a position around $22 with a stop below $21.50. The previous high would serve as an initial target ($25) for a Reward / Risk of 6:1.

About Stock Trade Journal

The information in this blog is not investment advice. Please consult a financial advisor before investing. I have been trading stock since the 1990's and survived the .com crash. I am developing software applications to help me trade better and now I am making them available to help other traders. This blog is also a way to share my experiences and observations in the market.
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