The stock was down 5% Tuesday. I have been looking for a good entry point to start a position in this stock and it looks I will be getting there soon. This is where patience is key when your trying to get a good entry price on a stock.
The stock has been a strong mover up for the last couple of months and when you look at the RSI indicator, it is still showing a slight over-bought condition. I fully expect that this downward pressure will take the stock down to the $10 level soon and roughly a 50 on the RSI. I would be a buyer of an initial position in the stock at this level. A move down to the firm support at $8 is also possible and the RSI would definitely be in an oversold position. I would load up on this stock if it got to these levels:
« Any opinions expressed on the Seeking Alpha sites are those of the individual authors and do not necessarily represent the opinion of Seeking Alpha or its management. »