Chart of the Day – Charming Shoppes (CHRS) On the Verge
This is an important chart to review simply because this kind of relative strength and resistance to an otherwise bearish tide is the kind of hint we like to see. No, not yet, but we’re getting close. Charming Shoppes (CHRS) - 10/26/09
Get further analysis on CHRS. When and if it does, I’ll most likely buy it in the model portfolio. Connect on Facebook | Follow on Twitter (CHRS) from our mention of the stock back in mid-October, when the stock went on our watchlist as a potential buy candidate. So are we acting on the trade now? In short, Charming Shoppes has remained within striking distance of new multi-year highs while the rest of the market has been retreating. CHRS is painfully close to moving above resistance at $5.75. FreeTradePicks.com | Login | Get all our email updates here! We only bring it up today to highlight what the ‘ideal’ trade looks like before, during, and after a trade. This is the before part. We had an official buy signal based on our chart pattern requirement at the time, though we elected not to actually take the trade…. Stay tuned. You may recall Charming Shoppes Inc. yet.