Hi Shoe,
What a difference a week makes! :)
The recent PR did great things for CYCH as it blew right past the overhead resistance of 17 3/4-18 1/4 on nice volume. We will reevaluate this now, as it doesn't appear that you'll get to pick up some more shares at the 14ish level anytime too soon. :) Provided that the volume remains intact, ride it for all that it's worth. Once you see the volume come out of the stock, that would be a good place to take some partial profits, assuming you want to hold this one longer term. That will likely be today and tomorrow, unless there are further PRs in the wings to keep it running following some minor profit taking.
It probably won't retrace fully now back to the 13 -13 3/8 level, or even the 14ish perhaps, given all of the good news lately so you might be buying back a bit higher than your original basis in that case. Then again, if this market ever comes back to Earth, you might use that as a buying opportunity, and it might be your only chance to get more of this cheaply! :) There really is very good momentum on this one right now, and I am very pleased for you that it has gone so well. :)
Take care, LMK what you decided to do on this one! :)
xoxo,
V. |
