* Trade Criteria *
Date First Found- November 28, 2017
Pattern/Why- Fallen angel
Entry Target Criteria- Break of $12.67
Exit Target Criteria- $14.83
Stop Loss Criteria- $11.83
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Price has bounced off of a significant resistance level (Blue Line)
I have gone long after seeing bullish divergence (Orange Lines), along with an increase in volume.
$EVH also has a high percentage of its float short at 34.20%, which has me thinking that with the recent bullish move, a large short squeeze may occur.
Price target is $18.00 for a R:R of 4.42
Yesterday heavy volume and a break below support in the ~23 area signaled a further bear move in EVH. The doji that formed at the close near heavy support levels signaled the possibility of a reversal however. As markets open today EVH is moving down below support yet again and I look for a continued move toward the 18 area. I will set a stop at 25, but will ...