As a scalper, my whole method depends on wedges, moving averages, trolling stocks and looking at the overall picture through indexes and daily-monthly views for things to take advantage of. DGLY or Digital Ally, the premiere body cam company, has been sinking for a while since June. However there is a noticeable trend; it tends to sink in August and go up in September. I marked those jumps on the RSI channel in red circles below the main chart. Will this make a move up? No clue, its getting very close at the end of my wedge and sinking through on my 200, 300, and 400 line right now. If it sinks below and fails its back test for the resistance. Its going to drop like a rock. We will have to wait til November when earnings hit to get a good scalp shot in. If it does stay above, we have a chance of this bouncing up. However moving average lines on the daily point to this baby plummeting back to either just little above $1 or below $1. at that point might as well take and hold until earnings. Its an easy scalp stock and unfortunately calls to action to reign in some police officer's trigger happy mood swings have still not been fast or effective enough. We are going to need those body cams and maybe more.
I say wait for the dip and buy at discount or you can have a really nice short here. Or...or if you really like to play risky...buy now and put a tight stop below. You will thank me later.
I say wait for the dip and buy at discount or you can have a really nice short here. Or...or if you really like to play risky...buy now and put a tight stop below. You will thank me later.