A cross of gold ... Fusion

Gator's Chart of the Day: FIO

No I don't own it now and no I didn't have any when it gapped big.  But I am looking at it again as it makes the golden cross.  Are there insiders selling?  Of course, but not a lot and with as much stock as they have I think there will always be selling.

The chart looks extended.  It is.  That's what happens with growth stocks when they are growing.  Short interest is still high with 22% shown as short and 7+ days to cover. 

The Trade
I'm looking at 29 - 29.50 as near term support.  I want to start a position if the stock opens sideways to up or if it opens down and bounces from the 20 day sma (29ish) I will buy the bounce.  The stop goes under the 20 day around 28.65.  I would look to add quickly if the position is profitable.  If it is flat or slightly red then I'll wait.  I'm looking for the stock to keep pushing the upper Bollinger band higher and if that is not happening then I won't be adding to the position and am likely to close it out on a "time stop."  (If it hasn't started to make the move by Thursday I doubt I own it on Saturday.)