High volume gapping stocks offer good trading opps if you can sit on your hands until a good setup presents itself.There were two trading opps for FEIC on Friday.
- Fib retracement long - red fib lines where you should target the 23.6% FE. I missed it. After coming within 10 cents of the FE, price consolidated in an increasingly narrow range, which we identify as coiling ahead of the next leg up.
- Within the coil, we spot the NR7 bar and place a long entry, using a few cents below the low of the NR7 as the stop.
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