A point? Feel good? "Still has room to run"? "At these levels"? You might consider looking at a "long" chart.
Looks like a reversal here better to move on to the stronger name now ITRI in the same sector. ~ stoney
Let's see, a guy that was in 5 points too late, out 4 points too soon (thus far) wants to give some advice. Wow, what a good Some-ar-i-tun!
Closed at $22.89, and eighth off a 5+ year high with the aforementioned base behind it. . And............in an over-sold market. We'll call it a..............re-test.
It's noonish. Up 12% (subject to change). No recent resisistance, aka half decade high. Virtually everyone long has a profit (to varying degrees). Anemic volume. This is good. Little for sale. Focal point, oh.............about $32.68. At that juncture, pretty much clear sailing.
Half hour to the bell. 12% is now presently 21% for the day. Unfortunately, such a move brings bugs to the porchlight. So, after a decent open tommorow, I'll most likely have to grit my teeth until the bugs are zapped. To quantify things. The orginal poster snagged 6 points in a brief period. Problem is, being out at $18, he's left about 9 points on the table. Add 5 points late to the party, and multiply by 700 shares equates to $9800 in tuition. If one pays tuition, not in hard losses but opportunity cost, they might want to get some kind of lesson out of it. For your viewing pleasure, a slightly updated chart..
Off to a great start. Down 6% Modest gap. Musta been an order imbalance. Couldn't have been anything to do with inventory.
1 PM CST. 2 hours to the bell. What was -6% is presently + 10%. Gosh, I guess it musta been an inventory pinch. More importantly, it's pierced the $30 level.
Whaddya know, closed at $30. Not $29.99 nor $30.01. What a coincidence. Or.............is it the human element? Nice big fat round number. There are orders sitting above there. Both sell limits since round numbers are natural profit taking points. But also buy stops from momo's buzzing at the porchlight. How many and the blend? Beats me. Ax (the human element) might have an inkling. Most likely BOTH factions will have to be worked off before this resumes higher. Attached is an updated chart for your convenience.
Gap down from $30 to $28. Now trading @ $32 and change, 4 points above the low. Ax shook out some low-hanging fruit aka LIFO