So PRTS survived through earnings. .03 EPS which was better than expected but overall margins and EBITA were all positive. I didn't play it correctly but I like to trade recognizable patterns and thought the day go go a bunch of different ways.
Earning date itself saw a huge spike as high as $16.44 which helped define the top of the price channel. It was sold off pretty heavily but still stayed within its level on the price fork.
Following that we have had two days of good gains on strong volume.
I am curious if the RSI wedge on the daily chart which was broken is now going to be support. Today it actually turned around right on that spot, could be coincidence, needs more tests to see if that's true.
Right now looks like a buy around the original price channel, and certainly the lower green line which has been tested a few times and held.
Currently have no positions. The puts appear to be very illiquid so Im not getting involved with that which would bea normally way for me to play the short side with less risk.
Earning date itself saw a huge spike as high as $16.44 which helped define the top of the price channel. It was sold off pretty heavily but still stayed within its level on the price fork.
Following that we have had two days of good gains on strong volume.
I am curious if the RSI wedge on the daily chart which was broken is now going to be support. Today it actually turned around right on that spot, could be coincidence, needs more tests to see if that's true.
Right now looks like a buy around the original price channel, and certainly the lower green line which has been tested a few times and held.
Currently have no positions. The puts appear to be very illiquid so Im not getting involved with that which would bea normally way for me to play the short side with less risk.