Here, the stock was hit hard in 2015 as shareholders abandoned ship, leaving stock down about 95% down over the next 2 years.
This downtrend mirrored the company's revenue and income but recently, the company seems to have recouped some losses and seems to be on its way to being profitable again.
Bullish sentiment in general, but here there is the opportunity to play for a quick retracement ahead of a possible uptrend (that's if an uptrend even follows up).
I am looking for a quick reversal to 16.81, but I will not complain if the price retraces downward further.
Stop @ 17.83
Target @ 16.81
This downtrend mirrored the company's revenue and income but recently, the company seems to have recouped some losses and seems to be on its way to being profitable again.
Bullish sentiment in general, but here there is the opportunity to play for a quick retracement ahead of a possible uptrend (that's if an uptrend even follows up).
I am looking for a quick reversal to 16.81, but I will not complain if the price retraces downward further.
Stop @ 17.83
Target @ 16.81
Trade closed: stop reached:
Got stopped out but went for another entry with a wider stop since I got stopped out on volatility expansion rather than a straight up wrong trade.
Current Stop @ 18.37
Current Target @ 16.56
Current Stop @ 18.37
Current Target @ 16.56
