$ZAGG 2/6: technicals. Our read; healing but still weak.
We were on techncial BUY-IF on Feb 5th & 6th, but even with the news coverage, failed to retake the $7 mark. And now that daily buy if signal is null and void. As such, with the lower day low (2/7), looking more like a bear pull back, so would not be suprised to see $6.48 retested and see it probed for stop losses.
We hold a small core of $ZAGG after our trading tranches were stop lossed. Looking to re-add these trading tranches ... but not today. A close over $7 with increased volume? Perhaps. After a bounce off $6.48 with a close above $6.54, even better.
Why thumbs down? These guys are entitled to their opinions. T/A works more than it does not, and is really just a mechanism to mitigate risky entry points. Where I disagree with their analysis, I'm subjectively guessing the weak hands are long gone. What long would be frightened out between now and earnings? The presumed shake-out would require totally uniformed longs. Where would they come from?