A sell sets up at the close for a move back to the mode.
Tight risk, high reward.
Tim 10/3/2014 3:55PM EST
Did a price action analysis of the daily versus 30 min chart here: http://stks.co/b14s7
Notice how the stock attempted a rebound towards the $89 level on 10/2 after the early morning sell off, but was unable to close above it.
Again on 10/3, the stock pushed above $89 in early trading, but was unable to close above it to finish off the day and week.
The stock has had 4 straight green monthly candles since its IPO. On the weekly chart, 7 of the past 8 weeks have been green. Safe to say at this point that some consolidation is warranted going into October options expiration.
Let's see what happens. No doubt an epic run since early September.