On this chart there is a falling wedge pattern. The price is continuing to move inside the pattern. We expect it to retest the trendline before bouncing up. Once it breaks out of the pattern it would be a good time to enter the long position. Target and stop loss are shown on the chart.
All, I think previouis post I had my lines slightly off which of course makes a difference I think we are on confluence support and beyond oversold/downtrend has to at least pop somewhat in my opiniong even if its $4-5. Looking for a bounce soon between weekly/daily change then getting 5-10 OTM options for calls or could do it now with maybe Aug/Sept.
All, I think this has a massive play possible here. Why: -Confleunce support (horizontally) + trend support -Falling wedge downtrend -40MA tight against trend (if you're a VWAP person I'm sure you would see a VWAP play) -RSI/MACD both good Recent news very positive. Looking into options Monday.
January 28th (Smart-Money Setup) - (From Tuesday Trading Room) Would set stop at 34.13. First target 26.13. Second target momentum.
Massive price rise along with volume & surge in Money-flow. We think it will go up further. Break of 5.49 will be confirmation for long entry.
going to be watching this tomorrow for a short opportunity depending on how it reacts around 5.50/6 level (whole/half dollar resistance)