Genesis Healthcare Inc (GENN)

[staticmirror79]

Just wanted to let you know that GEN hit about 2.62 this morning briefly before shooting back down. To me this confirms some resistance around that area. It would need to get above the 2.60-2.64 range and hold it in order to jump in my opinion. Also we would need to see a little more volume.

I feel good about this. But, with that said the two things that concern me are first, the slow stochastics is almost at a peak. I've seen a lot of them skim across the top if MacD stays positive but it could also be an early warning sign of a slight reversal.

The second thing is the earnings call next week I believe. Regardless of whether it's good or bad I think it could be slowing down positive volume as lots of people like to wait until after earnings (if it's close) to put more money into a stock.

But again, the main thing in my opinion to watch is holding above the resistance around $2.60. Obviously chart it out yourself and see if you can confirm that. Just throwing my thoughts out there.