Petco analysis
My first analysis on a stock using my knowledge of forex trading. Quite a few questions! I notice the price is well above the gap, seems to me as if a bait to take retail traders long in hopes that they hold on to the stock while the price is driven lower.
Think about it, If the vast majority is buying, then who is selling? This relates to institutional banks in the forex market.
Also, I trust my moving averages and in theory, my signal moving averages are below the 50% line of the gap and just in an eye of the long-term moving average.
What I'm used to seeing is the stops cleared, and an aggressive move up. Also, this is a safety trade for upward mobility.
Think about it, If the vast majority is buying, then who is selling? This relates to institutional banks in the forex market.
Also, I trust my moving averages and in theory, my signal moving averages are below the 50% line of the gap and just in an eye of the long-term moving average.
What I'm used to seeing is the stops cleared, and an aggressive move up. Also, this is a safety trade for upward mobility.
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