1/11 SET UP ... SWIR ... Swing trade ........................
SWIR set a recent price high back during the first week of December at $13.83. Price then experienced a steep sell of, taking it all the way down to $10.65. Last week, SWIR traded up to $14.00, making up 100% of that pull back. When you have a 100% retracement, as SWIR did, the first pull back into support is buyable. That's where SWIR stands today.
We have a 3 bar reversal into support, following a recent price high that retraced 100% of a steep sell off.
Also note how MACD has been growing stronger while price has been dropping the last few days. This is bullish!
stockcharts.com[h,a]daclyiay[d20051110,20060110][pb50!b20!f][vc60][iut!lah12,26,9][J66660733,Y]&listNum=1
Entry target above yesterday's high of the day, above $13.52. Price target, looking for 75 cents to $1.00. Initial stop loss $13.06.
dabum |
