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Stocks Trading Idea for $ASPS | Altisource Portfolio

This week, sitting at the top of the “Trend Change Lubricant” Top List from Trade Ideas technology is ASPS. With a float of only 18 million shares, 67% of that is held by short sellers. ASPS had plenty of time to recover from the steep drop in sympathy to news in another company. The chart shows an ideal setup for this type of trade; a narrow range base looking to move higher out of that base with a high short float % to help fuel the breakout.

Note- The average daily volume on ASPS is a bit low at 132k shares but if the stock breaks out, relative volume could tell the story. It would be nice to see relative volume readings above 2.0 if the trade triggers. This would mean the stock is doing double the normal volume for the day. If not, use your own discretion on volume.

Get the Chart, Scan results and Full Setup for this potential Long on $ASPS HERE >>>>