Monthly chart showing exhaustion. But this is just a quick trade for about $1.50.
Taking a look at the aerospace sector Enjoy
July 10th, 2015 - July 8th, 2016 QA Avg. 12-month Price Target: 66.63 Analyst Consensus Price Target: 58.86 QA Price Target Range: 52.36 - 78.90 Total Alpha Rank: 95th percentile Value Alpha Rank: 62nd percentile Growth Alpha Rank: 97th percentile Quality Alpha Rank: 46th percentile Sentiment Alpha Rank: 87th percentile
I last looked at SPR in February when price broke out above the December 2014 high. At that time I was waiting for the earnings announcement and to see how price reacted to the $50 half-figure. Price has continued to move upwards and the trend is beginning to look good. The latest earnings announcement saw price pullback to below the 50sma and retest the $50...
The uptrend for SPR is still a little erratic. It has been using the daily 200ma as support rather than the 50ma - so the pullbacks have been deep and prolonged. This has not made it easy to trend trade. However, since breaking above the 2007 high ($41.72) we have seen a slight change in personality. Price did struggle at this level and retested the area three...
SPR make an island gap , indicator for reversal pattern. High volume ( 4 times more than AVG50) Good to go long