I usually don't take these type of trades but when i looked at this asset in monthly view i liked what i saw. So Credit Suisse has been in the news all week. Had a huge selloff. But if you look at the monthly chart you'll see that back in November it had broken out of a resistance trend line that held it back since 2007 but it never backtested that resistance line. There was also a huge gap that was created ( can't see on monthly timeframe ) that we just happened to fall back down into to close that gap up. Now there's also a gap lower, but that would make us fall back below the trend line so hopefully it doesn't try to fill that one. The key is to make sure we wick off the trendline and create a higher low then resume the rally. This stock pays dividends as well so it's a nice opportunity to get an entry into this asset IMO. If nothing else, you'd figure we'd bounce back up and close the huge gap it just created around 13 dollars.
