ARUN - Bounce Already started?

[kamo]

52 week low 4.63. Currently 5.22.

Next resistance is 5.44(51/d ma 60min) & then 5.63 - 5.65 area. Looking for a close above this resistance. I will be looking for a entry point if this happens. Next resistance after this is almost $1 away.

Chart - all indicators were adjusted for the current trend



2705

[MrSer]

Nice find! Earnings on the 26th. People expect the worst maybe something good will spark a rally?

[kamo]

Nice find! Earnings on the 26th. People expect the worst maybe something good will spark a rally?

Yeah, I figured the bad news was already priced in because of the pre-announcement a couple of weeks ago. They made some mistakes on the federal government sales & it looks like the sale is still there if they get their act together.

I think after earnings are released I might buy & hold for a bit, depending on what they post. But...

for right now , I'm looking at this as a purely technical trade. If it closes above 5.65, I will look for an opening & ride it up.

[kamo]

Closed at 5.30 which is 8d/ma. Next resistance is 5.99 10d/ma.

Started a position today @ 5.29. Waiting to see reaction tomorrow.

[freakscene]

Started a position today @ 5.29. Waiting to see reaction tomorrow.

i thought your purely technical trade needed a close of 5.65?

just curious as to your entry today at a much lower price

[kamo]

i thought your purely technical trade needed a close of 5.65?

just curious as to your entry today at a much lower price

Sure. The 8day ma came way down to 5.30 & the moving averages within the minute charts moved below the pps. If you were watching this the last couple days, there is major resistance in the 5.30ish area. I started a position on tuesday & was hoping for a gap up above the 8day in the morning today(which did not happen).

MA's change on the fly & I must adapt as they move

[kamo]

ARUN bouncing on a horrible day. averaged in at 5.15

currently 5.60 has alot of room to run