Ferro Corp is sitting on its major support showing us relative strength, while SPY broke down its intermidiate trend with big, ignited candle. I will be watching for stocks that show us resilience during this corrective phase, as we remain in macro trend. If indexes will find its footing, then we can see an upward move in this stock with resonable risk/reward and high probability of winning.
Trade management is the key. Tier 1 here, close to support. Add when market conditions will be favorable and stock will go through 12.80ish with potential to 13.90ish resistance, then we have $15.