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
    •  "PIPER JEFFRAY UPGRADES CROX FROM $30 TO $35
  • 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.  

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