I really like this stock and this is why:
There is a very nice support line.
The stock bouced at this support friday and this is why im expecting a reversal of the trend.
There is also others strong supports and they are the Moving average, both the MA 20 and 50 are right at the low of the candle of friday so they are very strong support.
I like the candle also because when you see a little candle like that shows indecision and indecison after a down move like that is normally sign of a reversal on the upside.
Also, after a huge gap in earnings you usually a retracement and this is what happened , the stock went up a lot on earnings , then we see a nice retracement move with low volume and im expecting a reversal on the upside because this is what happened the majority of the time after a scenario like that.
There is a very nice support line.
The stock bouced at this support friday and this is why im expecting a reversal of the trend.
There is also others strong supports and they are the Moving average, both the MA 20 and 50 are right at the low of the candle of friday so they are very strong support.
I like the candle also because when you see a little candle like that shows indecision and indecison after a down move like that is normally sign of a reversal on the upside.
Also, after a huge gap in earnings you usually a retracement and this is what happened , the stock went up a lot on earnings , then we see a nice retracement move with low volume and im expecting a reversal on the upside because this is what happened the majority of the time after a scenario like that.
