Additionally, it's been some time since it traded down to this well known Weekly trendline, which at about $3700 would be a decent sized drop.
That being said, Friday saw yet another counter to Thursday's sell-off.
Anyway, here at the Stealthy Trader we try to prepare ideal risk/reward actions so as to cover most plausible scenarios.
As the past few weeks clearly have been volatile, we've been relatively subdued about entering trades as we don't really see much interest in our universe of stocks when the indices are showing strength but they clearly show weakness when they hiccup.
We have alerted on an individual name whose chart is exhibiting all the desirable indications of an oversold entity that will rocket should the market drop..with limited downside should the rally continue..
Feel free to have a look around our site and click on either our Premium Membership, for those that want to actively follow our analysis and actions or our new Follow Trade Membership; ideal for those who want to partake in our market busting returns but don't have the time availability to follow and execute on our every action.