Interesting ascending triangle formation developing over a positive divergence with rsi, suggesting possible reversal pattern and bullish breakout could develop.
SKIN entering the load zone, may be stuck here for a while so lets wait for a clear break past resistance zone first before taking a position.
Long trigger 13.26, short trigger 9.31
NASDAQ:SKIN looks like it wants to gap-fill between $13.60 and $14.85 before any strong move up. The gap was due to an earnings beat. If it does move up thereafter, it'll need to break the falling wedge's resistance to show a change in the descending formation.
But, in the near-term, the target is to fill the gap below.
Nice chart on SKIN - Clear trend, consolidated from JUN - AUG then legged up. Currently in consolidation and looking for the next leg up on a breakout of $28.5.
50 EMA black line stop loss below, $32 price target.
I have been watching lots of strong growth IPOs and thus have missed these beautiful $SKIN entries. A big impulsive move form $21 to $28, then pulled back to $23.77
Big candle to the 25% projection (which should be initial entry if you are aggressive) then coming back to 12.5% projection 3 times. with wicks!
It is a bit late for my taste to enter now. However I...
Opening up a new short position here. Looks like a great/profitable company but just seems overbought. RSI showing so as well.
Plenty of skin care products/systems out there. Trying to understand how a 60 million dollar revenue quarter equals a 3 billion valuation. Maybe I'm right, maybe I'm wrong. I don't use this stuff.
