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| Gator's Chart of the Day: CF |
CF Industries made an all-time closing high today. The stock has been trading in a range of about $15 for ten weeks. Wednesday's volume was well above the 50 day simple moving average and approached double Tuesday's turnover. The company should be reporting in the middle of May so keep an eye out for that date.
If CF opens higher I think it can be bought with a stop just under the 20 day sma. If it does move higher be aware that it is likely to pause and maybe pullback from $200 just because it's one of those round number things. I have no position but I'll be looking at May calls.
