CA03JUN16 - Stock looks quite bullish approaching the top of the trend channel. Look for continued momentum into next week and possible breakout out from the trend / resistance line at $33 or pullback to retest channel lows at $25. The stock is quite volatile, look to wait after the pullback and close below the resistance level for entry to minimize potential of being whipsawed out of the position.
Potential entries:
a) Short - Bearish candles forming at the resistance point of $33. Look for a test at $33.38 and pullback to close around $32.80.
b) Long - Breakout and establishment of support above $33.
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