Monday, November 2, 2015

[PLUG] update

In the backlink I was hoping for something more motive looking like this:



Instead we got this:

Long time readers know that I am never a fan of staying in something that does a corrective move to the level of the prior 4th.  This one poked through the top rail and then fell back inside today.  I set my stops for 2.59.  A break down of the lower rail will probably retrace most of that rising wedge but I think not down to a lower low.  Instead I'm thinking that this could be a good candidate for inclining double bottom as shown.

Still, I have no reason to ride it down at all and I want to raise cash for trading JNUG/JDST anyhow since as of now the count seems pretty clear there.

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