The recent trend on daily is clearly down. Both 8 and 21 EMA are negative. Therefore, playing a short position is probably safer. However, the stock may be due for a deadcat bounce. Possible counter-trend play.
But looking @ the daily price and volume action, we see that yesterday we have a long candle with high volume. Today we have a shorter candle yet, higher volume. Not to mention we see a shadow @ the end of the candle. Therefore there could be some buyers supporting the price @ these levels.
If LONG tomorrow, then target $82.4 and $84 (in addition to pivot points). Also, can look @ the daily 8 ema as target.
if SHORT, then target $75 (in addition to pivot points)
But looking @ the daily price and volume action, we see that yesterday we have a long candle with high volume. Today we have a shorter candle yet, higher volume. Not to mention we see a shadow @ the end of the candle. Therefore there could be some buyers supporting the price @ these levels.
If LONG tomorrow, then target $82.4 and $84 (in addition to pivot points). Also, can look @ the daily 8 ema as target.
if SHORT, then target $75 (in addition to pivot points)