LuckyDinAZ

Impulsive long, may come up short.

Long
AMEX:STS   None
2
Received an alert that STS had lost 5% and jumped in when I saw that it had tapped a prior resistance level and exceeded the lower boundary of the Bollinger bands , there has been a large gain in the price already from a year ago and especially since February. Which is a double edge sword for me. However I think there is still a potential to go to 16.50 if not 17.50 with enough positive pressure. Speculating that the prior resistance level of 14.57 will turn into support and that the price will continue to move higher. If not it may signify that the explosive growth is over for now. Free cash flow has diminished which may have triggered the profit taking, but believe that a move higher may still be possible due to the increase in total revenue and other fundamental support. Additionally On Balance Volume is level if not slightly positive indicating that there has been as much buying as selling recently while traders take profits and other enter for longer positions. If the long proves false a short may prove to be correct, and might prove to be a better position in the end due to its potential gain.
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