I was looking at this one as well and was going to publish a chart but then saw yours! It has sold off ~20% since earnings (which weren't overly bad). I'm thinking perhaps some consolidation between Fib levels $27.50 & $33.20 then hopefully a push back up again. Worth noting that there has been inside buying twice this week on this share as well. I've got it on the watch list for the next week with $34 Sept calls in mind.
pchuk1027
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@gary_trades, Thank you for your input. Anything I publish please fell free to give me constructive criticism. I'm fairly new at this and what I have learned came from you tube and @jessiepadi. Can you go more into detail about inside buying?
gary_trades
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@pchuk1027, I agree with what @jessiepadi has said. I does still look like there maybe a little more selling left. What I'll be looking for is support at that lower Fib extension ($27.50). If it breaks that then all bets are off but if not then I'd be watching for it to regain momentum again and look for good priced calls around the $33 - $34 mark. Timing is critical as I wouldn't want to be to heavily impacted by Call contract time decay, I'm giving it 1 week to make the move that I want to see before purchasing.
Inside buying was that the CEO recently bought 2 blocks of shares in the company. Always a good sign when upper management are pouring their own money into the company. With the price pretty much double what it was 6 months ago he must have real confidence in the company value.
jessiepadi
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It’s had a great run. It looks like it’s still selling off to me. It sold off hard a few days back. I’d wait for more confirmation that it’s done selling off. Timing is everything. I don’t see it going up hard. I bet it goes green for a bit then sells off harder or just continues to sell off.