Couldnt hold $8.62

46 4 1
Break and hold brings $9.99 into question. Only a matter of time now
Actually, last evening, I wasn't expecting to break 8.63 level and stay above. Weekend. Day Traders Profit Taking. Market Just Picking up. So I was anticipating to close above 8.50 and cross the line with good volume on Monday morning. I am already long and hold my position further. I am also of the view Friday's advance is pure technical and on company's value - not on merger rumor. If merger is confirmed, then $ALTR is fine example (we don't know how much it will extend).
So is it positive because it did break out, or you're saying its -ve coz it couldn't stay above 8.62?
Depending on TF, daily looks great. Im already long and have been but fun really starts over 8.62 (previous high) then sharp pullback. Clear skies to $10 if turnaround story works (fundies meet technicals)
+1 Reply
sunnykg9 JXMFinancial
Thank you for your comment. Also, are you looking at a classic cup and handle breakout scenario?
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