Tap Double Top or buying opportunity?NYSE:TAP has had a rough time as of late as noted on the weekly chart.
I am torn between the was it a double top or are we entering a buying opportunity here?
If it loses the 53 level it can continue to slide especially if earnings disappoint, on the other hand it could rise if earnings surprise at this low level. The lowest analyst had a target of 53 I am debating entering but concerned on this weekly chart.
Coorslight
YETI: Gap trading opportunity to go shortEntering short positions with stop losses at ATH. Target: $18.
Appears we got a reaction at the 1.618 extension, creating the opportunity to reverse and fill the break away gap. Unless a completely new bullish trend is to be established, YETI will want to return to the downwards channel (or at least to the trend of that channel). Although the company probably won't flood the market with outstanding shares on 4/23, this might serve as a sort of gravity for the stock. Also... check this out... the gap was created around $18.80... just above the IPO price. RSI indicates a buying opportunity and Stoich appears to be crossing over. Divergences are clearer on the 30 min.