Bullish Kicker on daily chart trading close to 52 week low on high volume with Connors RSI(2) overbought at 94. Also was some big buys and an insider buy. I got in at 25.92
ADX is >30, TSI cross and above zero, and it closed above the 60sma.
Also a case can be made for the formation of an intermediate impulse wave - starting wave three which will mean a move close 27, which happens to coincide with the nearest short term resistance level.
If the count is correct, we will only have a retracement to 27.14 which is the end of wave 1, and Elliot says wave 4 cannot overlap into the territroy of wave 4.
I''m still ,long and will look to take profits around 27, setting a buy limit in the area of 26.30.
ADX is >30, TSI cross and above zero, and it closed above the 60sma.
Also a case can be made for the formation of an intermediate impulse wave - starting wave three which will mean a move close 27, which happens to coincide with the nearest short term resistance level.
If the count is correct, we will only have a retracement to 27.14 which is the end of wave 1, and Elliot says wave 4 cannot overlap into the territroy of wave 4.
I''m still ,long and will look to take profits around 27, setting a buy limit in the area of 26.30.