DEC08:If the support at 33 holds and short covering starts then this could take this stock back to the 39-40 level.
There is a positive momentum divergence between the early november level and the current price. But the momentum by itself doesn't make money unless it moves the price on its direction.
Entering right here is risky and it would be catching a falling knife, so I'll wait and see if the price rotates and breaks above the 13 ema then I'll enter long, if the price breaks below 35 I'll go short with a target at 29.
The volatility in this stock makes it worth keeping an eye for short term trading.
There is a positive momentum divergence between the early november level and the current price. But the momentum by itself doesn't make money unless it moves the price on its direction.
Entering right here is risky and it would be catching a falling knife, so I'll wait and see if the price rotates and breaks above the 13 ema then I'll enter long, if the price breaks below 35 I'll go short with a target at 29.
The volatility in this stock makes it worth keeping an eye for short term trading.
