Stochastic Indicating buy signal on the 240 chart as the signal line prepares to cross after over sold conditions. This comes after the bounce off 52 week low support. It also looks to have bounced off both horizantal support at 3.30 and a diagonal trend line.
The risk reward on this one has become very attractive. Set stop a little below recent support at around 3.20. Targets are 4.87 about (41%) and 5.80 (67%). If you want to go for more conservative targets 3.89 and 4.29 are good shots.
A newsflash has popped up - Whether or not it's true isn't the question in mind.....(what is the truth nowadays?)
What's important is that it's tradeable.
So Please.... mind the gap
Safe trading ladies and gents!
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A run before earnings coincided with a head and shoulders bottom. Monday should be a good indication of what is to come, we will be looking for a green candle. A sharp decline come Monday morning down to 2.00, I would consider taking 30% sell at 2.04 to 2.06, then the remaining at 2.00 and 1.96. Good luck, and keep the stops tight.