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Allied Irish Bank (NYSE:AIB)

2010 - January 19, Tuesday

I’ve been with AIB for about a month or so for the reason of riding the early uptrend and here’s an analysis on the chart.

*note: The stock chart is by courtesy of stockcharts.com

The strategy here is to hold as long as the uptrend continues. It’s only recently the trend reversed to an uptrend from a downtrend. We’ll have to see whether the uptrend continues in the long run.

For now, I’ve set two chandelier stops based on the recent high of 4.95 and its ATR(average true range) of 0.33.
i) partial stop at 4.29 = 4.95 – 0.33 x 2
ii) full stop at 3.96 = 4.95 – 0.33 x 3

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