The stock made a marginal high today. One can notice that this stock is driven by headlines only. No consideration of fundamentals. Why? This is an overcrowded boat. China trade war bad news - the stock is first to sell. China trade war hope - a rally like there is no tomorrow. Nevertheless, the rubber is getting overstretched. A larger wedge is forming while negative divergence persists. I would not chase it, if considering long wait for a pullback where risk/reward is decent. Watch for a new range, small box at the top, resolution.
10/10/2019
10/10/2019
