One of the few tech names that is yet to catch on the rally, but showing signs of support in key zone.
- 60 VMA at 19 is critical weekly milstone. hold here could be significant pivot.
- I would look for failed breakdown pattern to confirm the strength. a Red to green reversal with gap down would be a great sign.
Trade closed: stop reached:
The reason why confirmation is important. No trigger no trade. Failure of the trendline was a clear short signal. now see if it can find support around 15. would have to do the gap down to engulfing green candle for any meaningful reversal. No reason to be in it.