Dan has had a nice run from $9.80 to $14.89 as of this moment, 9/7/2016. When was the last time a component of your IRA was up 50 percent. A few days ago it broke through resistance at $14.63 but couldn’t hold it. Today it moved sharply higher.
Next resistance is at $16.35, $18.05 and finally $22.13.
Dana Inc manufactures driveline components for everything from light vehicles to heavy duty offroad equipment. If the auto business should start to fall I would put a tight stop on this little puppy.
Please note the cup and handle formation on the daily chart above. The breakout was at $12.63.
Here we have the weekly chart that shows us a hammer as the bottom candlestick on the chart. A hammer is an excellent reversal signal. For those of you trying to learn to read charts these are both great signals. This ability will give you much more confidence in your trades.