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What I see... + Downward trend leading to a spike 2w ag as a result of earnings + Vol. and Price spiked, pushing RSI into overbought territory and since pulled back significantly + MACD is bullish + Side way move in the past week or so with descending vol. + Double NR7 bars on very low vol. + -1d bar was double NR7 and NR3 combo + Today's bar was of higher vol. and closed above 200 MA with 10MA providing support
- 10MA not breaching in the body - Bollinger beginning to widen - A few possible resistance levels along the way to Target
What I setup... + Long entry above today's high - Stop at mid-$5 + Target at just under $10 Duration: 4-8 days