Notes on the chart!
Why I'm writing: have been a total bull on this stock heretofore, and if you check out my last post was dead on to all the action since ER.
Now feel that growth wave correction is imminent, time to act!
Biggest factors: This stock has been on a tear for some time now, but just recently reached many of the higher price targets and psychological resistance of $100.
Regardless of the next wave, this wave is due to correct at least to the upward channel, but possibly as far as the 50DMA. I do not think it goes to the last gap, but that is the true resistance.
Where are the levels:
First, test of the upper BB on the 4H. I don't expect it to bounce, but if it does this would be a key signal.
Then correction to 20DMA, then test of resistance down to channel test.
Can't see the chart, but I think it's 100, 102.5 and then 98.xx.
The play:
Next fib level is at 108, but most growth above that would be speculative.
Loose stop at 102.5, tighter stop @ 103.50. I think this stock is tired, so play the tight stop and wait to buy back in.
Sell any puts below 98!
Why I'm writing: have been a total bull on this stock heretofore, and if you check out my last post was dead on to all the action since ER.
Now feel that growth wave correction is imminent, time to act!
Biggest factors: This stock has been on a tear for some time now, but just recently reached many of the higher price targets and psychological resistance of $100.
Regardless of the next wave, this wave is due to correct at least to the upward channel, but possibly as far as the 50DMA. I do not think it goes to the last gap, but that is the true resistance.
Where are the levels:
First, test of the upper BB on the 4H. I don't expect it to bounce, but if it does this would be a key signal.
Then correction to 20DMA, then test of resistance down to channel test.
Can't see the chart, but I think it's 100, 102.5 and then 98.xx.
The play:
Next fib level is at 108, but most growth above that would be speculative.
Loose stop at 102.5, tighter stop @ 103.50. I think this stock is tired, so play the tight stop and wait to buy back in.
Sell any puts below 98!