Mornin John,
Soda's float as it stands now is at 113% according to Yahoo major holders. Over 60% of the float is shorted. Every day volume over 1M moves soda at least 50 cents to 1 dollar minimum.
The indictaors I look at when the float is short over 40% is the Negative Volume Index (NVI). With SODA the NVI is still negative but is starting to curl. This does not mean it will not pop while negative, but as this indicator starts to go north the Stoick will start to move northward on more solid footing.
The next indicator I look at in conjunction is the MFI and the ACC/DIS. These indicators tend to reinforce the fibonacci and the resistance points.
SODA does have a history of once popping major it tends to die down just as fast.
for now I am watching for a breakout pattern to ermege this week, since I am holding Dec 22 calls I can buy on the dips this week if any.
Risking it all to obtain the reward, necessitates the motivation to succeed.
