I was looking at several charts for ENER. I don't get a warm and fuzzy with it. I also went to Yahoo to take a look at the "Key Stats."
Average Volume (3 month)3: 3,325,000 Average Volume (10 day)3: 2,790,240 Shares Outstanding5: 40.50M Float: 38.99M % Held by Insiders1: 2.08% % Held by Institutions1: 68.20% Shares Short (as of 25-Jun-08)3: 6.74M Short Ratio (as of 25-Jun-08)3: 1.5 Short % of Float (as of 25-Jun-08)3: 17.00% Shares Short (prior month)3: 7.75M
I especially didn't like the sell off near the end of the day seen on the RENKO Chart. The Slope indicator on the RENKO is highlighted. I have been finding this to be one of the best indicators for entry and exits. Let that baby set up for you and you can get a real nice profit, IMO.
Also, I might play this one as a long call spread. It takes some of the risk out of the play. If thst's not what u are used to then go with a straight call and I would be looking at the $80 strike price.
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