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Hudson Technologies: A Chart View

On the weekly chart, Hudson has been retracing after a nice volume push higher at the beginning of this year.

Support is found from $1.40 to $1.50 using the anchor bar from the week of Jan. 11, 2010 and the recent swing point lows. A break back over $1.80 to $1.90 would indicate the stock wants to push back to resistance at the top of this chart. If resistance can be overcome, then the large picture comes into play again. Risk is contained though. That's the nice part about the trade. You can risk $.20 to $.30 while you shoot for a double.

When trading these lower priced, smaller-capitalization stocks, it's okay to roll the dice a bit if you are aware that this is what you are doing. Sure, I try my best to find opportunities that have better-than-average odds of succeeding. Hudson definitely fits that bill in my opinion which is why I own it and bring it to your attention.

Until next week, just keep trading the charts!

At the time of publication, Little owned HDSN and HNSN.

L.A. Little, author, professional trader and money manager, writes daily on www.tatoday.com, a free educational site for traders and investors. He has been featured in numerous publications and is the author of Trade Like The Little Guy.

His background includes degrees in philosophy, computer science, computer information systems and telecommunications. With a trading philosophy centered on capital protection first and the accumulation of consistent gains over time, L.A. espouses a simplistic technical approach to trading the markets that is a throwback to the days of past. With a focus on swing points and the qualification of trends, L.A. provides a breath of fresh air to an otherwise crowded room of derivative indicators with the emphasis on technical minutiae.

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