Observation. Notes on chart. It's a bullish pattern, but showing divergences as well as expanded Bands which could mean the end of the current trend is nearing.
Watch-out this triangle formation for a potential move to the upside. Ideally I would like to see a another day down to enter long around 80.00 or at 83.00 break-out. Never heard about this company before, I normally wear more expensive clothes, but looks good on the screen.
Levels for a 3R (risk/reward) trade based on opening price spike low followed by higher high.
If one wants to ride it further based on the possibility of
then sell half at 3R target and hold rest while moving stop up beneath higher swing lows.
Deckers Outdoor Corp has spent the first half of this year grinding out a weekly pennant after a 100%+ move FY 2013. The interesting part about this 6 month pennant is that it represents the cup to a 2.5 year cup and handle formation. With RSI remaining in the bullish zone, minimal OH resistance, as well as a MACD cross on the daily I'm anticipating an explosive...
