Alright, now that I got the corny title out of the way we can talk about why this stock will do well. This recent drop was huge and the trend is getting close to the 30 week moving average at around $27, it's been trading above the 30 week MA so at this point buying the pullbacks to the 30 week makes sense. The S&P 500 is trending up from the recent break out and that will be the main reason why this would go up. Today volume came in on that big drop and you can see it if you zoom into the 1hr chart, trade this on the weekly just look at the volume for reference on the 1hr. Could it drop a little further? Possibly, but i'd trade this by buying it here and buying more on the way to $27 if it were to continue dropping. The RSI is centered out and the MACD seems to have a way to go so the stock has momentum for what I believe might be 2 big moves to $45 and $65. Let me know what you guys think and feel free to post your ideas!
Comment:
Looks like the first move has been successfully acheived!