More warning signs here. How can someone deny the extreme high probability of a recession with so many consumer cyclicals looking like this. We were due for a pullback in 2016 that we never got because tech kept soaring to the moon. But reckoning is very close. Many stocks will look like this soon.
This stock may or may not be a buy, im not about to start bottom...
Write sometning about your psyhology thinking before trade? it will be good trade after yesterday black thursday
Describe the trade. What you see? clasical support to resistance tradde
What have I done well for this trade? that in that case stop loss can be a little bit lower. this stop loss was not according to my rule
What can I take away to help with later...
This stock has a history of volatility and violent moves on earnings reports. It has lately began to show signs off regaining some strength after activist investors rattled the cage. It may be worth a LONG gamble into earnings but with very tight stop loss.
**Not saying to long $BBBY!**
If this breaks out of this wedge I think it will sharply rise up as there is currently 32% short float.
There is also 32% short float - if this isn't a strong indicator than nothing is.
TA is also telling me bullish conditions when looking at indicators on the daily - weekly actually makes a very bearish/overbought case.
The stock is already 4% down, but it could go for 20% plus. My PV is around $16.82, so in the case to go about $13 it could give us a real buying chance, but for now, already shorted.
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$BBBY Breaking Resistance - Near Term Upside Potential +20%
- Targeting $18.80 Sept gap-fill by mid to late March
- Looking for a close at or above $15.35 today for confirmation
Note: Informational analysis, not investment advice.