Today’s Big Stock Trade

General Cable Corporation is engaged in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for the energy, industrial, specialty and communications markets. It manufactured its product lines in 47 facilities, including four facilities owned by companies. It operates in three segments: North America, Europe and Mediterranean, and Rest of World, which consists of operations in Latin America, Sub-Saharan Africa, Middle East and Asia Pacific. The ROW segment, and the Europe and Mediterranean segment develop, design, manufacture, market and distribute construction products and the ROW segment manufactures and distributes rod mill wire and cable products. Its product groups include Electric Utility products and Electrical Infrastructure products.
To analyze General Cable’s stock for potential trading opportunities, please take a look at the 1-year chart of BGC (General Cable Corporation) below with my added notations:
BGC sold off from May until October with the overall market. While moving mostly sideways from August until January, BGC formed a strong level of resistance at $30 (red). At the end of January, the stock broke above that $30 resistance. Now that the stock is trading between the $30 and $35 (blue) levels, $30 should act as support (green) on any pullbacks just as it has for the past couple of weeks. #-ad_banner-#
The Tale of the Tape: BGC is currently trading between its levels of $30 and $35. A long position could be entered on a pullback to $30 or on a break above $35 with a stop placed below the level of entry. However, if you are bearish on the stock or overall market, a short trade could be made on a break below the $30 or on a test of the $35 resistance.
Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities. 
No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade.  Capital preservation is always key!