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!
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