Xray earnings gap and consolidated nicely after a big move up. Price attempting a breakout here again so looking for another move higher. If it reclaims the prev. resistance level marked, I will stop out
Looks like XRAY respected my support line on the monthly and looking very bullish as today's daily candle breaks resistance and closes just bellow. Also note the doji on the trend line where the 8 crosses over the 20 & 40 EMAs. 1st Target price 41.60 and the 48.80.
An intraday high potential, Back Tested Long Analysis.
We ll try to find an entry price within the expected pull back zone 62.84 - 62.00 as previously being back tested.
We ll try to enter into the correction of the downtrend movement tracking trend oscillators as below:
CCI diverges the price crossing down the zero level as well as shown in the chart.
I usually do daily or higher charts, but if found this nice double top on the 15 minute chart. Note are in the chart. Notice the throwback on the right. It looks like it failed. I expect the stock to head south. One note of caution. I peaked at the options chain. The bid and ask spreads are kind of wide. Really think twice about execution.
For just over a year XRAY has been trying to break through the 2007 resistance of $47.84. During this time a double bottom chart pattern formed on the weekly chart - which can be a strong indication of a continuation of the previous up trend.
Since breaking through the $50 resistance zone in early November, price has retraced to test this line (with resistance...