A few reasons I like SKYS for tomorrow and as a 1 day swing trade (I like to sell before earnings):
1. High earnings expectations - earnings Tuesday post market AND the price has shot up the day before the past 4 ER's.
2. This is the 3rd time in 7 days that it has hit what is now the $2.38 resistance.
3. Just Broke out of long descending wedge on daily chart going back 12 months.
4. Big end of day buys
5. Price is under 50d MA still
6. BULLISH confirmation on daily doji dragonfly candlesticks
7. RSI = not yet overbought after 4 green days
8. Increasing volume
9. UTILITIES was highest gaining sector today, signaling a possibly up trend for the sector
10. Analysts consensus buy rating
11. 6.50 price target
Reasons why I don't like SKYS for tomorrow:
4 green days
1. High earnings expectations - earnings Tuesday post market AND the price has shot up the day before the past 4 ER's.
2. This is the 3rd time in 7 days that it has hit what is now the $2.38 resistance.
3. Just Broke out of long descending wedge on daily chart going back 12 months.
4. Big end of day buys
5. Price is under 50d MA still
6. BULLISH confirmation on daily doji dragonfly candlesticks
7. RSI = not yet overbought after 4 green days
8. Increasing volume
9. UTILITIES was highest gaining sector today, signaling a possibly up trend for the sector
10. Analysts consensus buy rating
11. 6.50 price target
Reasons why I don't like SKYS for tomorrow:
4 green days