Doc...
We are rapidly approaching a double top scenario at $9.62 and we will need a lot more money flow than that to move past it. To reach it on lower volumes would signal a near perfect shorting opportunity...
stockcharts.com[L,A]DACLYYMY[DD][PB50!B200!D20,2!F][VC60][IUB14!LA12,26,9!LF!LH5,5!LI5,5!LG!LC20]
There are a couple nasty gaps at $5.094 and $5.625. One strong downdraft could clean them both up, but don't think they won't fill, because they will <g>
stockcharts.com[L,A]DACLYYMY[DA][PB50!B200!D20,2!F][VC60][IUB14!LA12,26,9!LF!LH5,5!LI5,5!LG!LC20]
Notice also on the one year chart how the stock religiously sells off in the high 70 low 80 range on a 14 period RSI...
I'd love to see it happen here, and I'd love even more to follow it right up with some tight stops, but right now I'd be a cautious buyer at best.
Whatever you decide, I'm sure it'll be the right move.
Regards,
JM |
