dorfmanmaster

APPS - breaking OUT

Long
NASDAQ:APPS   DIGITAL TURBINE INC
APPS is breaking out of its parallel channel ; with a 10% move; while the technology keeps going down.

I have not seen any news that could create this move today.


Intraday volume has been above average by 70%. (tool being patented by Schwab)


RSI is oversold, but as we saw earlier, APPS doesn't mind reaching 90 level. Looking for a strong close today to enter a small position.

Comments

You are right, that would have been the ideal entry. Did you take the entry and where did you place your stop?
+1 Reply
dorfmanmaster Tea-Trades
@Tea-Trades, I did take the trade fortunately.

I used a trailing-stop right below the 5sma to take 50% profit, and another stop below 10sma to get out of the position.
Reply
It looks like it may be testing support at $30, making a good entry point with good risk-reward-ratio.
Reply
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