What I see...
+ Price broke above Cup and Handle patter last week but bot pulled back
+ Found support from the rising 10MA
+ Earnings provided further support
+ RSI at 57, bouncing off of 50
+ MACD is neutral but above signal line
+ Hammer-like bar with rising vol.
+ 10MA has just crossed upward
- Both fast MAs are still below the 200 MA
- Down trend stock; may not be able to fill the gap
How I setup...
+ Long entry above week high
- Stop at week low
+ Target at near $12
+ Price broke above Cup and Handle patter last week but bot pulled back
+ Found support from the rising 10MA
+ Earnings provided further support
+ RSI at 57, bouncing off of 50
+ MACD is neutral but above signal line
+ Hammer-like bar with rising vol.
+ 10MA has just crossed upward
- Both fast MAs are still below the 200 MA
- Down trend stock; may not be able to fill the gap
How I setup...
+ Long entry above week high
- Stop at week low
+ Target at near $12
Trade active:
Moved stop to 5.78
Trade closed: stop reached:
Stopped out today; +1.29R