EZPW rallied into earnings and spiked after beating EPS. This has been on my watch list as a long idea for a while and fundamentally I like it. Technically, however it appears overbought with an RSI of 76 and ready to retrace.
Notice the most recent candle's extra long upper wick. It tested the 1.61 fibonacci level but it suggests that bulls could not maintain control as it pulled back to close under support/resistance.
I anticipate more profit taking as the most recent close is 28% or so above the YTD POC line, which is the level at which the most shares were traded YTD.
Target: $8.24
Notice the most recent candle's extra long upper wick. It tested the 1.61 fibonacci level but it suggests that bulls could not maintain control as it pulled back to close under support/resistance.
I anticipate more profit taking as the most recent close is 28% or so above the YTD POC line, which is the level at which the most shares were traded YTD.
Target: $8.24