This stock reversed split recently to comply with Nasdaq listing requirements. It has been beaten down since November. The stock on the long is facing challenges but if we rely on technicals alone it seems that it is curling to an uptrend, Still needs confirmation thou. I feel optimistic although i jumped in a little bit early but with trend change & the 30% short interest i couldn't stay away to the levels below.
I do currently have a position with a tight stop if it closes an hour below $5.55. The best entry level if it confirms a daily close above $6.4-$6.51 or if it retests $5.55 and keep a tight stop on the 2 hours chart below $5.55.
This not a financial advice. Please do your own DD
I do currently have a position with a tight stop if it closes an hour below $5.55. The best entry level if it confirms a daily close above $6.4-$6.51 or if it retests $5.55 and keep a tight stop on the 2 hours chart below $5.55.
This not a financial advice. Please do your own DD
Trade closed: target reached
Closed on Friday. Will look into it if it retests 6. I belive there is more upside but since it was an option play and i have entered a bit too early. Will keep you updated.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.