Tag Archives: Ford

Trading Ideas That Paid – SMP

Automotive stocks caught a bid in Thursday trading session after Ford (F) reported February auto sales that gained 14.4%.  Rivals Chrysler, Nissan and Volkswagen also reported strong U.S. sales in February, kicking off what is expected to be another strong month for automakers.

Speaking of automotive stocks, shares of Standard Motor Products Inc. (SMP), which manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry, attracted strong buying support, jumped 8.45% to 24.64 – a whisker below the 52-week high of 25.91 set in late February.  A closer look at the chart of SMP suggested that the stock could follow the so-called trend channel higher, heading toward the 26-27 levels in the coming days.  Just so that you know, initially profiled in our September 12, 2011 “Swing Trader BulletinSMP had gained more than 94% and remained well position.

The graphic below is from our “U.S. Market ETF Trading Map”, which show the near-term technical bias and trading ranges for SMP.  As shown, the underlying is in a short-term bullish trend when the price bars are painted in green.  The underlying is in a short-term bearish trend when the price bars are painted in red.  The yellow bars identify period of neutral or sideways trading pattern.  Additionally, the light-blue shading represents the short-term trading range.  A move above or below that range is considered overbought (as represents by the red shading) or oversold (as represents by the dark-green shading).  Readings above or below the red and green shaded areas are considered extremely overbought or extremely oversold.

Chart 1.1 – Standard Motor Products Inc. (daily)

Click here to read a detail technical analysis


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This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?

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