Stock got pretty beat up after they missed earnings but there is some upside opportunity now. We formed a nice consolidation area and now we're just waiting for an upside BO.
SMA 50 is crossing down on the 200, its given notice to a short reversal in the past. There seems to be some divergance with the 4hr MACD atm. It's currently Oversold on the RSI.
Getting in for a quick scalp. Support congruence from 50SMA, Fresh 1st point of stablished trend support, and psychological support level from 4 Hour TF MACD previous resistance. Selling at the retest of broken Standard Deviation support.
Historically it has found support on Previous Monthly Pivot point. It should at least give me the chance to enter the market at a turning point with low risk and high possible reward. As always, the risk is certain but reward is only probable. Trade with care.