Without holding a core position.
This is an explosive issue that any day now could pop and retest recent highs and since we're talking technically, I've felt that this issue is destined to hit $7.00 in the short term.
So if you're on the side lines waiting for the perfect price,
I'm going to feel bad for you when you miss out.
Cave : With an RSI of 56.13 it is anyone's guess what direction things will go short term, but the RSI essentially says there is a 56.13% chance of a pullback off the recent upgrade pop , but that also leaves a 43.87 % chance it will go up this week. After an upgrade that creates a $.49 rise on a $3.70 stock that is a 13.24% pop on the upgrade that may need to see more pullback to gain enough technical strength in RSI numbers to sustain any decent advance in price. If it goes up I will make money & if it goes down in the short term I will buy more.
Good luck to you, DJ
The problem is that we have patterns within patterns. If you use line chart for a year, you will see we are forming the handle of a cup and handle pattern that has at least another month or so to complete. Then you have to over come resistance to break out.
A characteristic of handles is a slow, steady grind higher that does so from an over bought condition up to resistance.
-Volume dried up perfectly so far on the weekly. 7 out of the last 9 weeks on the weekly chart volume has been less. Significant in the handle. Chart and all surrounding leading up perfectly right into earnings in a couple weeks. Your call may be 100% legit.
people sell at higher than market price = stock price goes down. people buy at higher than market price = stock price goes up. Stop over complicating everything. The only pattern I saw that was very evident was when we had the double bottom beautiful pattern in the twos.