Mike,
Good luck with your strategy, IMO, I would keep a very close eye on AHAA. There are gaps all over the place on the way up that never got filled, the next to get filled being at $88. Also, the chart pattern looks like an ABC down (like many charts do) where the distance from A ($156) to B ($97) will be repeated from the retracement C (132 3/4) to D ($73.75).
Yeah, it's way oversold, but given the gap at $88 and the possible ABC down formation, it's a chart shorters look for.
I know nothing about AHAA's business, anticipated earnings, etc., but considering the low today is lower than its most recent low, the pattern outlined above is a distinct possibility, IMO.
I hope I'm wrong, the ABC is not perfect as the fib retracements are off a little, and it seems to have support in the mid to low $90's. |
