“Fire in the hole!” -Boyd Crowder, Season 1, Justified on FX
Internet security continues firm FIRE is one of my current longs inside 12631, from a $56.38 entry. The stock is heavily-shorted and ripe for a short squeeze higher, provided I am correct in my assessment.
Observing the daily chart, below, I believe the $57 level is critical to hold here for bulls. Zooming the chart out to 2012, you can see the stock attempting another breakout from a long consolidation. The idea is that plenty of pressure is being built up for a large move directionally–I just want to be the one launching the rocket, not the target.
$58 is the next big level to clear above, and my stop-loss is below $54.
Fire in the hole, indeed.
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Looks good here chessNwine. what are you thoughts on FB? Weekly chart shows some good buying patterns
$28 the big level above to reclaim in my view