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Thanks. I don't feel strong conviction on that one.

Posted on: January 16, 2020 at 12:05:19 CT
scif MU
Member For:
20.87 yrs
M.O.B. Votes:
I'm not saying you shouldn't have conviction. It could easily go test its high. It gapped up past a price that served as 2 prior, recent resistance points. Yesterday, it tested that price and it served as support. So, it may be on its way up on another leg higher. But the MFI is going down against the trend. After a strong move, the upper Bolinger band has rolled over and acted as resistance previously. So, I just don't know. I'm certainly no expert on gaps. I've only recently been putting more focus on them.

Lately I've been looking at gaps with a certain look. Currently, I'm in 3 trades with gaps: ETSY, HD, TEI. All of them gapped down, consolidated, and crossed a key moving average after it had flattened out; and each of them don't have too much resistance to overcome on the way back up, at least to my eyes.

TEI, also has an 8.5% monthly dividend and a low beta of .55. It is near multi-year lows. The ETSY weekly chart is a bit interesting, but I'll be mostly out of ETSY soon. I'll keep watching it, if I don't impatiently lose track of it, to see what it looks like if price does clear the 200 day EMA. HD could get slowed down a bit on the way back up, but I think the long term trend is your friend on HD. I more than doubled my position on Monday at $224.36. I'll be watching it at $230 to see if it reverses, but I think it will go test its high. We'll see.

What are you thinking about MU? Does MU have a set up that you like or dislike?
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Hey scif. Here's another gapper - yy4u MU - 1/15 12:13:05
     Thanks. I don't feel strong conviction on that one. - scif MU - 1/16 12:05:19
          Any thoughts on AVGO and/or VMW? - Emoji Man SMU - 1/17 22:39:45
               Looking at AVGO's weekly chart, it has a trend line - scif MU - 1/19 15:49:07
                    Very interesting information. I greatly appreciate. I'm - Emoji Man SMU - 1/19 17:52:23
          I'm big on MU - TigerJackSwartz MU - 1/16 13:12:21
               KSU looks pretty solid, too. - scif MU - 1/16 14:38:24

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