are we there yet? are we there yet?... are we... |
Truly this stock has taken a beating since it reached the glorious highs at $24.6Xs. Now trading for $13.8s and at one point having decent as much as 45%. All in a matter of 6 months. It has been a very nice and controlled decent with some good attempt to recovery and without gap downs. We think there is a trade to be made here.
We are looking at the weekly here. We need to waiter at least one full week or two to determine if this level (support now) will hold and if the down trend shows any signs of a fight upwards. To ID it, we are looking at the Heiken Ashi weekly candles. A sea of red. Brave enough traders would buy right here. Not us, we always want some confirmation. But won't stop you if you feel like taking it for a sexy ride ;)
Our game plan is to:
1) Wait for a +SAR with a Green Heiken Ashi candle on the weekly. Simple.
2) Or, Wait for a strong candle signal (hammer) no matter the color with a confirmed second week. Simple
TrueCar: A Solid Quarter Of Financial And Market Share Growth ( http://flip.it/5qa39)
We are looking at the weekly here. We need to waiter at least one full week or two to determine if this level (support now) will hold and if the down trend shows any signs of a fight upwards. To ID it, we are looking at the Heiken Ashi weekly candles. A sea of red. Brave enough traders would buy right here. Not us, we always want some confirmation. But won't stop you if you feel like taking it for a sexy ride ;)
Our game plan is to:
1) Wait for a +SAR with a Green Heiken Ashi candle on the weekly. Simple.
2) Or, Wait for a strong candle signal (hammer) no matter the color with a confirmed second week. Simple
TrueCar: A Solid Quarter Of Financial And Market Share Growth ( http://flip.it/5qa39)