Hourly indicators are actually bullish, but 3 separate chart patterns indicate a target of $5. Pattern is very similar to the 2015 rally, if the market keeps selling of software companies, this could hit gap support between $4.5 - 4.75.
Long term, everything depends on earnings.... I'm still bullish, waiting for the pullback.
Long term, everything depends on earnings.... I'm still bullish, waiting for the pullback.
Comment:
I had a bid in at my $5 target and it barely missed. There might be a quick flip possible here as it's still oversold with positive divergence in every intraday chart timeframe. (Still not oversold on the daily though.)
I was taking care of my other trades, and didn't up my bid, oh well.
I was taking care of my other trades, and didn't up my bid, oh well.
Software sector getting hammered, looks like the whole sector is due for one more day of tanking. Will probably be weak for the entire week, will look at this Thu/Fri.