Setup shows U shape recovery and stock trying to break out. A huge volume indicates the crowd is anticipating a breakout here. Then room to go around 169 as per measure move. Wait for breakout, retests and holds support to confirm. The only concern is on RSI is enter into the overbought area.
Buy Area: 139 PT: 169 SL: 129.37
Disclaimer: I"m NOT a financial advisor. All trades idea are shared for educational purposes only. All advice is based on technical and my own opinion.
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After the news of acquiring Precor, stock moving aftermarket hour about 7-8%. This news gives more strength to this setup now. Try to buy around 144.73 area.
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Original trade idea worked as predicted. It's moving toward the nearest support area 137-138.