may consider STX as a pullback buy at the .61 retracement around 41 which is also the recent breakout level and about 10% above closing before earnings release. stops at pivot level would be too far off though at least the +6% level should hold. stops then little below that level around 39 which is also the uptrending 50dma
a gap down to that 41 level and seeing buyers jumping in would make me go with them. short interest of about 12% may help limit the down side also as bears may want to cut losses
a gap down to that 41 level and seeing buyers jumping in would make me go with them. short interest of about 12% may help limit the down side also as bears may want to cut losses
Yorum:
missed that one. didnt do my downgap entry...
