THanks for the update. I bought in FEYE last time but wait fro long to break out and sold for a little loss. Even with good news for the stock (bad for society in general) the stock did not react. There is big security breach news again today. Do you feel its a confirmed breakout this time? What is your upside target? TIA.
@HHSPN,Yes it's been taking some time to develop, but the key thing to pay attn to IMO is how strong the name has been throughout the growth stock fallout. A lot of relative strength there to consider. For my system the breakout happened last week. We may back and fill a bit the following week, but this is likely a minimum multi-month hold for me. Target 1 is 35.. then looking for 50+
@Lanmar, Bummer. Is the chart technically damaged? I mean is there more downside. When they trade with new name/ticker the history of price movement will remain with it. The market they are in is great, it might take some time to clear out the noise create by the sale and build on fundamentals. If they run it well as a consulting firm they might bring in more dollars.
@HHSPN, on the daily, yes definitely. Weekly is also damaged for some time. From here it needs to rebuild and base again.. probably catch up with the 200dma. Whenever such high probability patterns fail I avoid the asset for a long time