As in my past analysis for JCP
, I showed that the key for this stock to go higher is the supporting performance and news. This stock has a bright future, volatility
was very high for this stock in both directions (up & down) which means there were some smart money out there accumulating in the stock (it is obvious in the positive divergence with the RSI
The stock has to trade above $7.95 for at least 3 days to be able to continue for the next levels which are $8.56 and then $9.17.
the Failure to trade above $7.95 for 3 days might be an indication of weakness and that the smart money which accumulated at lower levels are selling after the positive news announced.
Have a good trade.