I like to post both bullish and bearish scenarios because either are always a possibility.
The bearish scenario in this case is that the initial gap was one of the three drives in which case this is headed down. My add point is $5.15 based on this chart, I plan to sell some if it goes over $7.
In any case, the fundamentals support $8.5 at 50 trailing P/E, but it's almost doubled in less than a week, so there's bound to be some selling. Still buying the dips on this one.
The bearish scenario in this case is that the initial gap was one of the three drives in which case this is headed down. My add point is $5.15 based on this chart, I plan to sell some if it goes over $7.
In any case, the fundamentals support $8.5 at 50 trailing P/E, but it's almost doubled in less than a week, so there's bound to be some selling. Still buying the dips on this one.
Note
Maybe I need an alternate alternate scenario where it does nothing, lol.Note
Looks like this wasn't too far off either...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.