Technical Analysis. I'll keep it simple: Stocks don't get anymore bullish than this. If you bought at any point today, you will make money on monday, period. Of course nothing is ever certain in the markets, but this is as close as it gets. The stock is above the breakout point, which was the 0074 initial hod today, which connected the upper trendline of the symetrical triangle. The next resistance to close above was 0078, which we did handily.
I am also actually glad that we didn't close at hod, because when a stock closes hod, a lot of pattern trader types like to sell on the expected gap up the following morning. But with us not closing at the hod today, it leaves us in a good position to make a smaller gap to old hod from today of 0084 on monday morning first thing. Then we'll probably pullback and test .008/81, maybe a print down to 78, the new support, will appear for split second. Then the buyers will overwhelm the stock and it will quickly head back to 0084, dance there for a minute and then break to begin an all-day uptrend with the runs followed by brief consolidation characteristic of the past two breakout days.
A 90-100% day is possible on Monday. Just be careful of selling at the eod monday, as we are close to the parabolic no-gravity zone that these types of runners can experience (I like to call it capitulation buying, haha) so don't be so quick to assume that we will have a 35% consolidation period starting Tuesday, as we did after the last two runs, although we still may follow that pattern, its tough to say either way, but we certainly may be looking at massive gains this week that will drawf the previous two weeks' gains (the expected announcement by Friday certainly bolsters the chances of my parabolic no gravity hypothesis becoming reality next week, but even if the week follows the established pattern, we will have a great week). All of this imho of course. Good night and enjoy the weekend!
