Closed Tuesday almost perfectly on the downward trend line
with a spinning top
formation (indecision candle), but considering the bluish engulfing
candle on monday it leans bullish
especially on a tough market day overall. After a 70% selloff in 5 months, it looks like its ready to make a move. Just received favorable terms on a revolving line of credit as well as unusual option activity to the tune of a $1M purchase of Dec $17.50 calls for $2.95. A return above $20.45 would be a 25% return by December opex. Tomorrow could be breakout or a couple more days of consolidation.Risk Reward Extremely Favorable imo
. Think we should fill the gap to $22 very soon.