It looks like SRI is forming a cup with handle that started in April, with a resistance at the lower $32 level. The stock price showed a small decrease during the last few weeks (handle), the volume dried up due to the lack of interest from the holders to sell it and the price at the close didn't show significant fluctuations. A volume increase during the next few...
Beautiful setup.
Target at 35.
Stop loss below 33.09
Looking to break the trend line and hit 35. Earning report is on the 8/1.
Will close position whichever comes first, 35 or earnings report
Weekly chart // It's not easy to find a mirror. More harder to know how much it keeps on repeating itself, with the assumption that the positive RSI divergence is confirming the green projection. A 2.87 beta and a negative alpha won't help the trade, if mkts turn more volatile (which is very probable): there comes the 150 ticks stop.
