7.48 appears to be a solid area of support for this stock since 2/8/16. There has been a close, a open, and several touches very close to this level. More importantly, the last time this stock closed around this price, it touched what appears to be resistance at around 9.73. Of significance, the volume for that day (3/17/16) was 5M. Volume as of late is double that amount. Also, the stock is starting what seems to be the beginning of a bullish trend.
I'm looking to swing trade this for about 3 weeks in anticipation of at least hitting the next resistance level near 9.73.
I'm looking to swing trade this for about 3 weeks in anticipation of at least hitting the next resistance level near 9.73.