See my comments from last time, they mostly still apply...again. Each day we get closer to a fabulous short, if only borrows are available on it and anyone boxing and dropping handles their emotions and such. Quite a run for days now, admittedly.
Rumor mill situation, apparently, rather than obvious entirely verified news. Huge volume and price rise into the close today, which was green by over 113% Probably more of the same upside from the gate unless an official PR is released before then with less than peachy details. If it spikes up, this can be long scalped, etc.
Up on news, I expect more upside to scalp long into from the bell or very early on, from late arriving souls. Might also peter out near another 2.50 test for a short, though it might require top fishing to enter.
New 52's. Short term, these tend go even higher. Possible early or from gun spiking to long scalp or a bit longer hold, depending on how well prices are supported. An early red to green would also be a long entry.
Having taken 1.50, this might head higher, if it holds. Junk, but the consolidation seems to be breaking to the upside, for now. A fail at the above level with a clear falling below is a potential short, in theory.
Momentum, insider purchases and piling into the close today are a powerful argument for more tomorrow, either from bell spiking to long scalp or more into if it holds up or an early red to green long entry. Held 2.50 which is a good sign. I would like to see that continue or be successfully duplicated if it gaps down, as a long.
Another 1.50+ test may be in store here. If it can hold it, a long may be on tap. A flat open or nominal gap down might fit the bill to set it up. Another fail there may be profit taken and provide a short entry.
If we can retake 6 (preferably early) this might green and yield a long scalp or more, if it holds up. If we try and fail there, a short entry might arise, probably with an EOD exit.
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