I already own the stock for fundamental reasons and looking to add, but I know people in this sub love trading opportunities so I thought I would bring this to your attention.
The technical picture is a classic setup for a bullish move out of a stage 1 base. Have a look yourself on a weekly chart.
1) Basing since Dec with a series of higher lows, forming a nice ascending triangle
2) Currently just below a strong weekly resistance around $3.00 dating back to late January
3) Setting up to challenge the 40 week EMA at $2.85, which is now flattening
Possible entry points:
1) Highest risk: Now.
2) Medium risk: When it makes a strong weekly close above the 40 week EMA.
3) Lowest risk: When it makes a strong weekly close above the $3.00 resistance
[link] [comments] https://www.reddit.com/r/stocks/comments/13ybmwz/open_is_setting_up_for_a_strong_move/
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