Trade of the Day – Bounce to Resistance Offers Short Trade in Centurytel (CTL)

Posted By Tate Dwinnell |  Subscribe in a reader | Comment 0

I continue to believe that the big money will be made on the short side over  the next few months so I’ll focus on these trades more often.  Today’s trade of the day is a short opportunity in Centurytel (CTL), a stock that took out support of the 200 day moving average with record volume on Thursday and Friday of last week but has been getting bounce, returning to test what is new resistance at the 200 day moving average.  This retest offers a nice short entry between 45 and 46.

Disclaimer: I have initiated  short trade in CTL today. 

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