BILL has been a very exciting stock to watch since its recent power earnings gap. It is very apparent that the buyers are in control of the stock which you can see with the holding of the VWAP from the PEG (orange). This checks off all the boxes for my trading criteria which is:
1) no overhead resistance
2) TraderLion RS line above 75
3) PEG has not fallen below the PEG
4) Declining ATR
5) $ Amt of volume is above $20M
This stock may be somewhat extended since the PEG but there are areas to watch if you want to get into this name. I would be managing risk from the close of the PEG indicated by the callout box. I would take this trade into a move past the high or a cheat trade if the stock starts the week off on its back foot. Also to note on Friday the overal market got hit hard and this name may have been red but had a pretty good closing range.
1) no overhead resistance
2) TraderLion RS line above 75
3) PEG has not fallen below the PEG
4) Declining ATR
5) $ Amt of volume is above $20M
This stock may be somewhat extended since the PEG but there are areas to watch if you want to get into this name. I would be managing risk from the close of the PEG indicated by the callout box. I would take this trade into a move past the high or a cheat trade if the stock starts the week off on its back foot. Also to note on Friday the overal market got hit hard and this name may have been red but had a pretty good closing range.