jessetaylor
Long

SUNE Hitting Major Support

NYSE:SUNE   SUNEDISON INC
SUNE             is coming down to possibly retest a breakout of what is major resistance over the last years (Since 1996) represented by the black line.
RSI is highly oversold at 23.

Things to think about:
*Major Support is at the $23.25 mark, but expanding trend lines show support at $19-19.50. The price may break Major Support and retest at rising support instead.
*Fib Retracements are not necessarily being followed.

My strategy:
This will be a longer swing trade for me.

Buy near $23.25 mark with 75% position
Possibly Scale in at $19-$19.50. with remaining 25%
Stop Loss: $17.50
Profit Target 1: $32
Profit 2: $50 +

Comments, Questions are welcome! Thanks and good luck!

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