Any ideas or thoughts on todays action? I thought this would be up today. HD, saks, and target is up. Was looking like it was going to be a good day for FDO, but then there were about 100k sell orders or short sells when I looked at the chart. MM's don't want this to take off or what?
Tough call for today. You'd think after 2 taps on the TL it would pop. At the same time having traded\watched it extensively this year, I could envision a quick run down to the 27.50 area near term to knock some stops and then bounce. I threw some buy orders down in that area just in case.
It's bounced two days in a row on the UTL from 1/08. This is the 6th test and it follows a test only a month+ ago. I could see a potential backtest of the DTL from the April\June highs of this year which also coincides nicely with the July low ~27.50 depending on how you draw it. I'm ignoring 6/2, 6/3 to draw it. You'll see that line was tested 7/8 and 7/13. Also the way I draw them I could see a test of the 26 area. So that's what I'm thinking 26-27.5 for a bottom-mm's playing with the few traders and getting cheap shares for a possible run with next months' earnings.
Your right it doesn't trade as much in afterhours. I looked at the chart, it has a nice base. I can't see this stock going below $28.50 you can look at the support level on the charts. I think we are due for a dead cat bounce. This stock held up well during Mondays sell off.
Exactly . I was hoping for the same. Yesterday It closed at 29.08, today it open at 29.09, ran up to 29.25 first few minutes then it dropped back down to yesterday low. When I looked at the chart today the 20 ma broke the 50, and it looks like both of them want to break the 200 ma. Tommorow could be a big payoff. I've been holding since Friday, I really don't want to hold this past Thursday. But we are down on considerable volume, stock trades roughly 3 million per day and today we haven't even broken a million shares traded. This could have a huge gap up in A/h.