the Pattern since late may is either a continuation flag (running wedge) or an ending diagonal.
I believe the latter has the higher probability.
IF my assessment is correct the stock value should capitulate to around 70 which equates with a 50% retrace.
very promising robotic company, now forming a flag around the 60.0 Level. Outbreak can be traded, short to the gap prefered and from there long again to next TP around 80.0
am long IRBT from lower as it was braking into new highs in volume. However, pulling back to 20 or 50dma this name could be setting up for an entry shortly
Demand Zone at former resistance which should give this level extra support. Wait for a pullback to this zone to buy.
Entry: $40.79
Stop Loss: 40.09
Target 42.84
IROBOT beats analysts exspectations. This Event skyrocketed the stock to the first resistance Zone between 37,6-38$. The next days a consolidation at this high Niveau can be exspected.
Could Irobot trade above this Level, Prices round about 41,8$ could be exspected technically. ABove this Level, the next TP could be 46$. Above that Level, the uper edge of the...
$IRBT
Bearish setup, but! we've got earnings coming up on Oct 21st. History has shown us that we typically get a spike up on earnings. Place your bets.
Those wishing to go long, ought to consider a rising buy order at 38.00 - this can be trailed down if and when it bounces off the 32.64 support in the impeding market correction.
It may go up from here - especially if it gets sudden attention in the press etc. - it's the kind of story media tend to love.
Thanks to @AlexIzak for highlighting this stock in a...
