The daily shows:
- Price above the 20- & 50-SMA, but below a slightly up-ticking 200-SMA
- Price within a $8-$10 range for the better part of 2.5 months now
- First trend-line break (from a strong selling phase) broke out and retraced all the way back to its trend-line.- Second trend-line break is in progress
- Highest volume day for the past 8-sessions ended selling off from it's highs, but still closed above the open.
- A strong gap up could meet with resistance at the overhead 200-SMA
- A downside gap could have support at the 20-SMA area, $93-$94
- Approaching earnings, price has been bought up into an accepted range, between $95-$99.
- This past week has seen a number of sell-offs (probably a sign of covering positions before earnings?) that quickly recovered, while putting in 3-successive higher lows.
- Bulls and Bears are positioned. They met in an accepted range, and the winners/losers will be told through the tape in the morning.
Minor S/R levels include:
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
I am always open to questions, comments, or suggestions on how to improve this blog.