naughty charts' wink
Pure simple. TrueCar provides a solution to an annoyance. Buying a car is generally a pleasant experience. Getting the right price for your new car is not. TrueCar's power come from the ability to make sense of huge amounts of data and present it in a way normal people can understand. Partnering with over 10,000 dealers across the nation is only the start. More will follow.
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THE NAUGHTY CHART
The chart looks ugly. But that is the way we like it. This company is here to stay (we believe so). This would be by far one of our riskier trades as its stock price swing with the car manufacturer's price, sales, earnings, guidance, etc. But we believe there is money to be made.
Quickly: A) RSI has never been this oversold. We think it has more room to come down. B) Double support, Double Resistance at $15.5 C) A True test to the bottom would be at $12.30, unless of course news at that point make it tank back to IPO levels.
MACD crossing below. Let it find it footing before pounding the table. Falling channel, bottom support. Without news or good volume any attempt at the middle of the channel would be a fake rally. For a convincing change in direction, we need to steer clear of the resistance lines, having found a true bottom, with MACD confirmation and potentially a sequence of two higher highs and higher lows. Then pound it. Pound it good.
Quickly: A) RSI has never been this oversold. We think it has more room to come down. B) Double support, Double Resistance at $15.5 C) A True test to the bottom would be at $12.30, unless of course news at that point make it tank back to IPO levels.
MACD crossing below. Let it find it footing before pounding the table. Falling channel, bottom support. Without news or good volume any attempt at the middle of the channel would be a fake rally. For a convincing change in direction, we need to steer clear of the resistance lines, having found a true bottom, with MACD confirmation and potentially a sequence of two higher highs and higher lows. Then pound it. Pound it good.