Darling International (DAR) Spikes above Resistance on Good Volume
As StockPoet correctly pointed on his comment today was a real nail biter if you are holding DAR
Today’s a real nail biter on DAR. IT’s toying with major resistance at 13.40. A close over this would bode very well for the coming weeks.
I have to agree with you Poet, if history repeats itself we are looking at $16 for the next target. Here’s the daily chart. Note how the volume today was above average. I will close this position if goes back to $11.80.
And here’s the weekly chart - not bad at all "Darling".
April 11th, 2008 at 12:52 am
Thanks for quoting me in your blog. I actually stopped out of DAR but immediately bought back in at 13.05 today when I saw it was able to close over the 13 EMA.
I agree completely with your target of 16 a share. Naturally this is merely a target as predicting stock movement is not an exact science. DAR got a little ahead of it’s year long uptrend during the month of February. If you draw a trendline starting in May of last year it does point to around 16. Given DAR’s move through resistance on decent volume, and MACD turning bullish makes it very likely we will approach 16 IF we are able to make a new high over about 14.45.