Last week, I put out an alert to buy the stock only after it crossed over the 20-day moving average. If you followed the risk management strategy for this position then you did NOT buy it because the stock never closed over the SMA. This week we are getting into the stock because there are a couple of buy signals showing that we shouldn’t ignore. First is the doji candle, which is a sign of indecision. Dojis usually show up at pivot points but when a strong green candle follows the doji this tells us the buyers are moving in. The second event is the formation of a secondary gap that is now above the market. This gives us a short-term price target that would result in a respectable return on investment.
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