Do round number pivots work | stockbee


Do round number pivots work

CMG: Chipotle Mexican Grill
Jesse Livermore believed in trading stocks near their psychological pivots. One such pivot he liked to trade was stock crossing 100 or 200 or 300.
"Many years ago I began to profit from the simplest of type of Pivot Points trades. Frequently I had observed that when a stock sold at 50, 100, 200 and even 300. a fast and straight movement almost invariably occurred after such points were passed. "
How to trade in stocks: Jesse Livermore

CMG is approaching 100, so let us see if this round number pivot works in this stock.

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