We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of Datalink Corporation (NASDAQ_DTLK).
I hope you are having a GREAT week !!!
DTLK has set up a possible MarketClub Trade Triangle opportunity, so let's take a look at what is going on with DTLK in this week's Chart to Watch.
MarketClub put in a monthly green Trade Triangle on 11/05/12 and the monthly Trade Triangle is still green which means the longer term trend is still up as of right now..
DTLK is in a shorter term counter trend correction, which has turned the weekly MarketClub Trade Triangle to pointing down and red.
If DTLK trades higher from here, and the weekly Trade Triangle turns back to up and green, that will be a place to consider going long, as both weekly and monthly time frames (Trade Triangles) will both be green and pointing up.
Big things could possibly be in store for DTLK on the upside, which makes this a great Chart to Watch.