Handle This Spike Carefully
The one that got away: That's how Bank of Ireland (IRE) feels at the moment, as the stock has gone parabolic. It is the name I have been getting the most mail on recently, so what to do now? This is a tough one, as chasing a stock after it goes parabolic can often end poorly. Still, I'm taking a back-to-front look at this chart by examining the weekly first, then backing into the daily.Bank of Ireland (IRE) -- Weekly Source: StockCharts.com View Chart » View in New Window »
Bank of Ireland's weekly chart is still strong in terms of momentum, but shares are hitting their first target -- albeit much quicker than I had expected. The stock has jumped about 25% just since Dec. 20. Here's a hat tip to fellow Real Money contributor Tim Melvin, as he continues to find success here in a big way....342 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.