Trend_Chasin

Long Opportunity with tight risk NYCB

Long
Trend_Chasin Updated   
BATS:NYCB   New York Community Bancorp, Inc.
On NYCB we have essentially seen a 15 year consolidation that has broken to the downside leaving value above us and the POC at $12.00. On the Monthly Chart we have broken out of the falling wedge but the buyers came in heavy once liquidity was swept. On the weekly we see a general template for a wyckoff accumulation Schematic with what appears to me as a spring on climactic selling volume, immediately followed by extremely aggressive buying to lift back above the HVN Demand Zone that initiated the big move up in 2000. I see this as an opportunity to take a long, with a tight stop, ideally on a retest of $4.25 but I will also be looking to take a smaller initial position if we can hold this 4.90s level should it try and lift off without us.
Good luck this week everyone
Comment:
Caught a nice long this morning for 50 Cents a share on 10 cents risk, only just but ill take it. Im still gonna be looking for my entry tomorrow at $4.25. Hope you all had a good Monday