a friend asked me about this one. The spread is to big for me but i believe it a big short play at $37.40 with a stop at $37.77 and a target down around $30.20
I am just starting out getting into this whole technical analysis thing. I am publishing this to get any feedback to see if anyone has any comments to make about my chart and what I saw with the indicators.
As for the chart I see a possible opportunity to trade a bounce in Big Lots, however there are no distinct signs of reversal. I see divergence in the MACD...
Big Lots started to fill this gap zone in February this year but has not been able to break out of it yet.
The MACD has been a good indicator so far and the blue line just recently crossed under the red line.
A close under 36.25 will confirm this new downtrend and expect a retraction between 33 and 34.
HAPPY TRADING!
