Friday, July 29, 2011

Crocs, Inc. (CROX): Last Night's Post Market Trade of the Day

Click chart for larger image with comments. See detailed arguments below.

Multiple Arguments:
  • News
    •  Better than expected earnings results
  • Level II Traps
    • Visible buyers around the gap down from $29.50 level
  • Momentum Trend
    • Bounced off $28.77 support to fill prior gap
    • Buyers come in and help break the $29.50 below big round $30 level
    • Clear upwards trend above all intra-day EMA's showing extended support
  • Technical Breakout
    • Through $28.50 on the daily  
    • Tradability
      • Manageable, 0.50 risk 
    • Support Confirmation
      • Broke the intra-day EMA's right after the $29.50 bounce
      • Big candle up, pulls back with a big candle down but maintains supporting upwards trend
      • Stayed above the short-term intra-day EMA's
      • Nice peak in volume around 10:30 to confirm continued trend 
     Trend levels out at the big round level above $30 heading into the next trading day.  


    This material is being provided to you for educational purposes only. No information presented constitutes a recommendation by T3 LIVE or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy. The content neither is, nor should be construed as, an offer, or a solicitation of an offer, to buy, sell, or hold any securities. You are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs. Visit the T3Live Homepage, Virtual Trading Floor, and Learn More About Us.

    No comments:

    Post a Comment