2 Horizontal lines show possible support and resistance level, confirmed by parabolic, with 20 and 50 day EMA's beginning to merge into potential golden cross. Scalpers should be comfortable with long entries from .4 to .36 with planned exit around .48; scalpers/swing traders keep in mind that earnings are early August and supposed spin-off is set for September. Scalpers may need to resist the urge to trade in between the support and resistance levels in order to take advantage of spin-off distribution of shares by taking a bag. Level 2 and time/sales seem to indicate that there is an interest in keeping PPS down prior to opening of hospital and spin-off; therefore, accumulation under .4 could be possible over next several weeks as MM manage the PPS. Noteable institutional owners as of 3/31/17 include Blackrock, Barclays, Morgan Stanley, and Vanguard.
Trade active:
Long 11465 avg pps .404 holding till earnings on 14/15 Aug with possible reentry for September spin-off.
Comment:
Getting punished the this week but oh-well, trying to remain patient and not bail. Weak hands seem to be falling prey - I don't want to become one on them. Want a total of 15k shares before earnings so I am looking to average in around .32 if possible.
Trade closed: stop reached