Rfmd
Im trying to learn technical analysis and for this stock I will say what I think and id like to get some insight on if Im on the right track or not.
Im looking at the 3 month chart and I see that a cup and handle has formed so once it breaks above 4.20-4.25 would that be a buying signal. Its also been on a steady downtrend but if it did break that 4.20-4.25 mark that would also break the downtrend right? Well if youd like to take a look and see if Im way off base or not please tell me if i am.
I see a possible inverse cup and handle leading into earnings, a slight bump on earnings then it seems to have just stalled. The 20 and 50 day sma's are both still declining as well. Priceline support is around 3.81 and potential resistance around 4.25-4.38, after that likely resistance in the 4.65-4.75 range.
A pullback to around the 3.81 level on low volume and it might be a buy or a break above the 4.7 level with volume I'd also consider getting long. A break under 3.75 and I'd want to be short though.
I understand you are trying to learn tech's on this specific stock, but don't forget to take into account the overall market. A vast majority of individual stocks will follow the overall trend, and trying to trade against it is extremely difficult. This stock may be primed to take off, but if the overall market is trending down, it will most likely drag this guy with it.
So, if you beleive the market is headed up, then look for an entry point, but if you are not sure or think the market is trending downward hold off, for now.
Check out these tickers for overall market action: qqqq, spx, spy, ndx, indu
* I am not a pro, just trying to help.
I understand where your coming from thats why most daytraders try not to hold stocks overnight because the opening of the market for the most part can give you an outlook on the day.
But the technical insight that Im looking for is over a 1 month period and I feel that this month will be positive as were now getting into better trading months.