Gap from September 2013 closed last Thursday. Now very oversold with MACD cross. Gap from May above unclosed. Potential for long on Tuesday 160607 with TP at gap close at 280.
Negatives to ponder: 1) as always, gap closes are not guaranteed (in the near future), so the above scenario may not play out. 2) trend is bearish with higher volume on down days so far - so this is a counter-trend play. 3) potential H&S on weekly with possible neckline break coming up. 4) seasonality may also be a negative factor until October.
Therefore: I recommend a tight stop not far under last Thursday's low and also to close out part of the position fairly early if in profit (perhaps at ca 258 to 260) to pay for potential stop.