lowtrade

[lowtrade]

SRPT
Sorry, I made a dumb error about your stocks charting evaluation.

I teach look at a 6 month chart first. To see what's been happening investment wise. Then zero in to a 3 month to see what's been happening trade wise. I had a 3 month chart up when I checked SRPT. Just checked the 6 month and found the bottom island reversal I posted about was actually the end of a top island reversal pattern. Not the start of a bottom one.

That makes a big difference. Mainly that sentiment change with the volume spike matching the top gap up has changed and the retrace to fill the first gap is over.

So todays pop doesn't need large volume to expect any continuation to fill the retrace gap down. There is no bottom island reversal as I in error thought. Plus seeing the ADX in the 3 month chart I posted is above 50 and reversed trend. This pop could be the signal of a large come back move. And the gap above should start filling. There is an early entry signal in the DMI now and the 5,10 cross is real close. So any continuation I posted shouldn't happen, because on low volume today, isn't correct. It can continue.

My bad, things are actually more rosy then I first posted. Retail phycology should begin to shift with gap above and change in sentiment already happened, because the top island reversal play was ended. Targets on this move should be 26 gap fill, then 30 next resistance and 33 and 35 next resistances, Like in a single bottom bounce play. In & out stepping up till continuation stops.


6 month chart, see the top gap up island I missed. Sorry
http://stockcharts.com/h-sc/ui?s=SRPT&p=D&yr=0&mn=6&dy=0&id=p78653488911