1. Horizontal levels are working well 2. Weaker than the market 3. Globally and locally downtrend 4. confirmed by touch and FB 5. distant test 6. approaching with regular bars 7. has the energy 8. point of the trend reversal 9. from there was made a new local high 10. potential 10 to 1 If you understand the idea, push a thumb up! Have a question? Don't be...
The sma50 acting as a dynamic support, stock in a strong support. Good risk-reward, if going long you can you a 2 ATR(14) stop on close.
Stock dropped on the statement from Lakewood Capital but I'm sure the market overreacted and it should actually be higher than where it is now. Extended hours will be a good indicator of where it's going so wait for the pullback before buying. The day after a drop is usually an even lower low so another day wait may be needed. thepatternsite.com