The MACD is crossing and Friday's candle took out the .38 fibonacci level to close on the good side of the descending trend line.
Looking for a close above the descending trend line to confirm the break out.
Target: 16.73, 17.28
As you can see on the chart the 4th wave is underway. Waiting for the end of Wave B of (4) which will be followed by wave C of (4) with a target 13.60$. The 13.60$ level is a potential buying area. For now we keep a watchful eye on the stock...
Huge volume today on a retest gap. Highly doubt a retest all the way to yesterday's high. Looking for it to retest the support/resistance level. True target would be 11.40. Honestly not sure it'll pull back this far though.
MDRX has been in a messy downtrend for a few weeks so Friday's gap down, on the earnings announcements, did not come as a surprise.
As volume was also up there is a good probability that the bear move will continue. However, because the trend is not very neat and because there is support at $8.84 this is a near-term shorting opportunity only. That still gives a...