WOOF dropped after an earnings beat now setup REVERSAL

OPRA on the 30-minute chart dropped after an earnings beat as apparently a lot of traders

expected better. The volume profile shows the vast majority of the trading occurred in

the 5.05 to 5.25 range. This heavy accumulation should result in price movement in due

time per Wycoff. I believe that a long trade is setup for a Fibonacci retracement of the

drop into the middle levels and so 5.85 as shown by the indicator on the chart. The mass index

indicator reached the reversal zone and then triggered with a drop below it confirming

a probable reversal. The MACD is showing bullish divergence.

I will place a buy stop order above the POC line of the volume profile with a stop loss at 12.0

just below the POC line is a safe 10-13% trade which may take into the beginning of next

week. I will take call option contracts as well. If you want to know the details of those,

please leave a comment.