LOW looking like it may retest 92

13 giu 2019

High volume selling after earnings (2 black gap candle formation) pushed LOW down to $92 for a brief test. Since then it has been consolidating slightly above. I think it could retest $92 for a possible double-bottom, or worse, break-down to new recent lows possibly around $86-87. I have a tight stop of $98 as it has already consolidated a bit here. Depending on how it reacts at $92, I may continue to hold (probably with a 1/2 position) or reverse for a long trade. If long, I don't expect it to immediate fill the gap above $102, especially with the 100 & 200MA in the same area.

Disclaimer: This is my own SPECULATIVE opinion and should not be considered financial advice.