Osborne820
Long

ECOM Ready to break out?

NYSE:ECOM   CHANNELADVISOR CORP
57 0 1
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.
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