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Long Carbo Ceramics (CRR) at $72.27

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September 11, 2012 – Comments (0) | RELATED TICKERS: CRR

I took my first trade of the day in Carbo Ceramics (CRR) at $72.27. Overall the setup looks solid and is trying to break its down-trend from last March. 

There is also a very appealing cup and handle formation that has formed and confirmed over the past one-and-a-half months and breaking through notable resistance in the process at my entry price. 

Assuming it breaks its downtrend, I think this has every opportunity to higher - possibly as high as $80. 

Here's the CRR chart setup

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