Mad volume quantity the last six weeks for this one. Reaching it´s bottom at $9, these company has gotten the attention of a lot of investors. At long term any buy below $20 is a steal for this stock.
Yesterday, when the stock went above $12.60, the 5 min bearish trend got broken and closing around $13.60 the bullish setup has a high probability of continue.
I identified the upcoming resistance points at 13.66, 14.70, 15.86, 16.86 and 18.00.
A pullback may be expected for the next week so we have to be cautious if it breaks down 12.30 which is the current bottom of the uptrend channel. Buffet bought shares at a price average of 11.57 so this would be the "Buffet Support", if the price breaks the support we might be seeing 10.50-9.00 range again
Trade Idea:
- Long position at 13.75
- SL: 12.20 (Uptredn Channel break confirmation)
- TP: 18.50 - 19.00
If you swing trade you might want to close and open positions around the resistance/supports.
Yesterday, when the stock went above $12.60, the 5 min bearish trend got broken and closing around $13.60 the bullish setup has a high probability of continue.
I identified the upcoming resistance points at 13.66, 14.70, 15.86, 16.86 and 18.00.
A pullback may be expected for the next week so we have to be cautious if it breaks down 12.30 which is the current bottom of the uptrend channel. Buffet bought shares at a price average of 11.57 so this would be the "Buffet Support", if the price breaks the support we might be seeing 10.50-9.00 range again
Trade Idea:
- Long position at 13.75
- SL: 12.20 (Uptredn Channel break confirmation)
- TP: 18.50 - 19.00
If you swing trade you might want to close and open positions around the resistance/supports.