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Taking A Long Position in Church & Dwight (CHD) at $53.95

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June 19, 2012 – Comments (0) | RELATED TICKERS: CHD

I'm probably more excited about my pick up in Church & Dwight this morning than any other stock I've bought in quite some time. In fact if it goes well... and that's a big if in  the market these days, I wouldn't mind holding on to this stock for an extended period of time - say weeks or months. 

It's breaking out perfectly today, and managed to get in at $53.95, using a stop loss of $52.81 and a target of $60 or higher (I prefer higher). 

Here's the short-term trend of the stock and pattern I'm getting in on:

Now  when you look at that, you may say "I come across a dozen of those patterns every day" - but do you see a long-term trend that accompanies it as well? 

Here's the long-term pattern.  

I didn't think so!

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