My trading experience with VZIO
VZIOOn May 24th, I opened a long position with VZIO. Based on Wall Street Journal's analysts' recommendation to "buy" the stock, that decision was spontaneous. I hoped that the stock would continue its upper trend, but it was a mistake.
Later on, when the stock reached 21.00, I decided to average down my position. Currently, it's at 22.05.
The recent up move on June 4th indicates that either bears covered their positions or bull decided to step in. Either way, I expect the equity to move up towards the 23.45 level.
That level is close to the pivot point, which will serve as resistance. After that, the stock will either bounce back (which will provide another buying opportunity) or break it and continue its upswing towards the 26.92 level.
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