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Pin Bar Reversal at Support with HUGE volume SPIKE
Friday saw a huge institutional volume spike on a shortened trading day. This came at great support for YOKU and we have very clear bullish momentum divergences on the stochastic and mac-d histogram indicators. Of course, the bullish pin bar that developed due to this strong support bounce is confirmation that this stock is poised to go higher from here.
I would look to get in close as possible to Friday's closing price with my stop loss just below the lows of Friday's session. No real resistance for the stock until about $24.
I would look to get in close as possible to Friday's closing price with my stop loss just below the lows of Friday's session. No real resistance for the stock until about $24.
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