Hello Traders,
I'll only go over the technical aspect of the trade leaving out my fundamental reasons I chose this company.
We have a clear cut accumulation/distribution channel breakout (MY FAVORITE)!
Price is trading clear and above the 50, 100, and 200 Moving Averages = Bullish.
Increase in volume prior and leading into the breakout above 26.78 = Bullish.
And for a little hint... +10% Change in funds owning this stock with 2 quarters of increasing fund ownership. =)
Cheers, hope you like this simple chart analysis. Mitigate your risk and this should be a decent trade.
I'll only go over the technical aspect of the trade leaving out my fundamental reasons I chose this company.
We have a clear cut accumulation/distribution channel breakout (MY FAVORITE)!
Price is trading clear and above the 50, 100, and 200 Moving Averages = Bullish.
Increase in volume prior and leading into the breakout above 26.78 = Bullish.
And for a little hint... +10% Change in funds owning this stock with 2 quarters of increasing fund ownership. =)
Cheers, hope you like this simple chart analysis. Mitigate your risk and this should be a decent trade.
Comment:
Currently looks like a failed breakout. Probability stands that price has a better chance of retreating to the channel lows.
Why those levels
- 70% Of December 2016's trading volume took place between $24.97 - $26.07
- The POC (Point of Control) where the majority of trading activity took place within 70% of Decemeber's trading volume is $25.47.
- The upper upper level of each months 70% of trading activity traded within 1% of $25.05 six out of the 10 previous months, which tells me that is strong support.
Hopefully I was able to explain this without rambling in 3 different directions. =)