The best stock to watch VOXX
VOXX surged 50%+ today off a great earnings report, all time lows of VOXX are $2.10 it recently bottomed @ $2.50 then spiked to $3.95 the RSI level on the daily is at 72, if you look through out the chart history it can get as high as 85 so this still has room to run.
After bouncing 40 cents above all time lows, VOXX has potential of being a multi day runner or longterm swing trade.
I will be using the “Gap Close Strategy” to predict where VOXX is heading, and I encourage you to use this strategy, and utilize this watchlist. You shouldn’t be waiting for me to alert this tomorrow.
What’s the gap close strategy? Once a stock closes a gap it’s known for having a one sided volatile move, here is how to use it on VOXX
5/16/2016 VOXX had a gap waiting to be filled @ $3.80, the gap was filled today. VOXX touched $3.95 slightly breaking out above the gap close, and then closed @ $3.80 in after hours, If $3.70 holds the bulls remain in control and VOXX is a strong buy, you can also buy the key breakouts at $3.80, and $3.95 with a stop loss @ $3.65
As long as $3.70 holds the bulls remain in control, now if $3.70 cracks the bears will take control and slowly fill the gap from $2.60s, this is very simple to do just follow the price targets mentioned in here.
If the bulls hold $3.70 here is the technical analysis for tomorrow: Key breakout $3.95 once it breaks $4.10, after that $4.50, if those resistance levels fail to break it will head back to the price level before. For example if $4.50 fails to break it’ll drop to $4.10, if it holds back to $4.50 etc
If the bears crack $3.70 the first drop will be to $3.50 then $3.30
To cut to the chase, VOXX is a strong buy if the price is above $3.70 with a stop loss @ $3.60 and the key breakout is $3.95
If VOXX cracks $3.70 it’s a great short selling opportunity, with a stop loss @ $3.85
This will offer a great risk/reward if you use tight stops, and it’s not about being right this is a one sided move it’s about recognizing the trend. So if you shorted VOXX @ $3.70 and get stopped out # $3.85 you should then buy VOXX it’s as simple as that.
On a setup like this it doesn’t matter if I tell you I’m bullish or bearish before the market opens, what matters is the strategy/analysis I just shared with you, the gap close strategy. One of the keys to using it is understanding the price, and the one sided trend. The beauty of it is if you failed to predict the trend and got stopped out for a small loss you can then switch sides, you gotta be quick though these are known for being volatile. I explained to you how to use it, I obviously don’t expect you to be a master at this strategy based off this post, it should help you out a lot thought. If you want to master my strategy you must study everything I give you weather it’s a blog post, video lessons, live stream etc, and then once you learned it practice it in the market and your confidence and success will boost over time as you gain experience.
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