Here’s my take on Dish Network (DISH). (October 13, 2016)
DISH
I want to get into Dish ( NASDAQ:DISH ) here; I will show you a couple different charts on this. Here’s the thing: I like the way this is trading, it traded really well all day today. They report earnings in a month so earnings are not an issue, but look at all the things that are going for this stock. First of all, a while ago the 50-day moving average crossed above the 200-day moving average and kind of stayed above there, right? That is a bullish thing. Also, we have these zigzags, higher lows and higher highs, but this has been kind of ‘drifty’ here. It kind of drifted lower after this zigzag. Generally speaking, on declining volume, we like to see that.
Now, you say, “Well Dan, what about this?” Okay fine, that was one day; big, massive dump, right? Well the stock stabilized since then. It has only come back to look at this price one time and now it is moving higher. Relative to the market this has been doing really well. Heavy volume for the last couple days, all on the buy side; well all on the buy side today, yesterday not so much, it didn’t really hold up that well. Here is another thing, the ADX, it’s a trend indicator. This gave really kind of a crossover signal back here. The trend is not so strong right now that you look at it and say, “Oh my gosh, I got to get on board right now!” No. Those are the types of things where, when you finally see that, you kind of start wondering if maybe you are too late.
Here, I don’t think you are too late. I think we have got a lot of really good indicators for why this stock is going higher. If it stays, I’ll say 55.00 but actually more like about 54.50. As long as it stays above this level then I think this is a stock that you can own. And at 54.50 or so, if you are putting your stop right here at 54.50 that gives you about a 4.5 percent risk on this trade. The fundamentals are decent, they are not awesome, but they are decent. So I like Dish ( NASDAQ:DISH ). I want you to consider making this trade, just make sure you are not trading too big.
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