Tuesday, June 3, 2014

Tuesday morning.

FEYE Daily Chart
Are you ready? I posted last week that I was looking for support and a bounce around 31.50 and that looks to be what we got to start the week. The stochastic does not look strong here because it was another down day but if you look at an intraday chart you will see that the low occurred before 11AM and the selling appears to be done for now. Volume was well off of Friday's level.  The last 1,3 and 5 minute candles Monday were green and tall. I will be looking for some calls (probably July) and buy if the support holds.  If the stock trades below 31 then I will wait (or sell my starter position if I have entered.)