Channel Advisor Corporation (ECOM)

[thetechtrader]

Harry has posted Charts of the Day video on ECOM at TheTechTrader site noting:ChannelAdvisor Corporation (ECOM) has an interesting chart. It closed up 18 cents to 14.42, or 1.26%, on 1.3 million shares. Here’s a stock that double-topped in 2014, came down 5 waves with a big fifth-wave spike, based out, tried to break out, retested, and the one-year chart shows a basing pattern. I think the key is going to be the double-top at 14.73 twice. On Wednesday, this stock jumped to 14.45, and closed at 14.42. You can see the entry into the resistance zone. If it gets through there, I’m looking for 16-17 short-term, and long-term this could be a 20-23 dollar stock. It has 8.37 days to cover.