This stock is barely hanging on. Had a nice gap today, bearish gap and go, the buyers couldn't hang in there. Selling came in. 5 min chart looks nice, looking for a retest. I think we could lose less than 1 R on this.
Holding Weak Should continue lower down to support around 13-13.50
Volume is increasing, stock is well below the 100/200 SMA along with the 10,20,50 EMA's.
Looking for a break out. Stochastic in good shape and a little divergence. Waiting for confirmation this week.
Volume - average recently. EMA's - sideways and equity is headed toward the 50. SMA's - headed higher and looking to catch up with the stock. Stochastics - headed for a buy signal. RSI - headed higher. MACD - headed lower. BB -squeezing and were broken today. Watch for a BB reversal. ADX -around 40 and holding steady. The momentum indicators aren't...
SPLS's ADX is riding high above 65. EMA's are really bullish, BB have been broken and all oscillators are overbought. Wait for SPLS to retrace and have a large day confirmation candle with above average volumes.
Gap is bullish. Buy the bounce on the hourly. 13.50 is a good retracement area. Stop would go in the gap 14.25 good area for a target and or to move your stop. Ultimate targets are 14.52 15.22 16.34
Interesting to monitor weekly price action around current levels going fwd.