Up about 25% year-to-date, it remains notably overbought and has flashed a second “bearish reversal” signal.
It’s traded in a well-defined range since February and recently arrived at the lower end of its range where a buy trade is setting up.
This isn’t an outright long-term bullish call on the stock, but rather a pure “trade” idea for the near term of a few weeks to months.
It’s fallen hard and in a straight line since mid-April. Now at record oversold levels, it’s finally worth buying again.
It’s reached technical support for a bullish trade setup.
It’s fared worse than the average stock in its sector, but it’s still worth looking into.
It’s coiling tight below well-defined technical resistance and looking giddy for a move.
Through the lens of technical analysis it looks to soon take another leg higher.
Although it saw a nice lift in recent days, plenty of overhead resistance persists.
It’s found new momentum and in my eyes, the path of least resistance in the near term is higher.