Pattern: Bullish breakout of downward channel resistance line.
Edge: Insiders have heavily been buying the $8.50 to $9.80 price area. Money flow has been divergent and has gone above zero line showing bullishness. Volume bars are much higher on green days than red days. We are buying in hopes of catching the early parts of a reversal rally.
Risk Management: Bought at $10.17. Stop below $8.40 (below the 20 day moving average, and below recent the price that insiders bought. PT1 is $12, PT2 is $13.70, then open target for the remainder of the shares. Lots of potential here for $1.77 of risk.
Edge: Insiders have heavily been buying the $8.50 to $9.80 price area. Money flow has been divergent and has gone above zero line showing bullishness. Volume bars are much higher on green days than red days. We are buying in hopes of catching the early parts of a reversal rally.
Risk Management: Bought at $10.17. Stop below $8.40 (below the 20 day moving average, and below recent the price that insiders bought. PT1 is $12, PT2 is $13.70, then open target for the remainder of the shares. Lots of potential here for $1.77 of risk.
Trade active:
Sold half position at $12.20. Great move, up about 25% so far.
Trade active:
This position continues to do well. Updated stop loss to recent low at $11.90.