Zoloft~WGAT~thank you for bringing that one to my attention. I've seen that symbol floated around quite a bit, but for some reason never pulled the chart for it. It's a very tasty looking consolidation. A lot of times stocks go through the progression where they get red hot and hyped up, then they fall back and consolidate like this and get boring. They bore out all the momo traders and people that got stuck at higher prices. Then, while they get bored, smart money can move in and consolidate it. Of course the opposite can always be true where the smart money slowly distributes the stock here and keep it propped up as long as they can.
Tight boll bands just means some serious volatility is about to happen, the problem is you can never know what direction.
Technically I think the best thing to do is maybe just enter it here, and sell it if it breaks for a new low in the recent consolidation, or wait for a close over $4 that wasn't first gapped up over it to start the day.
I do see some slight caution needed on the weekly charts. The formation is bullish at this time, but the internals are a little weak. A move and close below 3.80 would be the first major warning sign that bears rule it.
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