TZOO made a nice upwards move today on subscriber news, triggering my $20 price alert, will post a chart later this evening (unless someone else beats me to it). Opened a long position this afternoon, but I got in at a pretty rotten price (partly bad timing on my part, partly just an example of how rotten my broker is when it comes to executions), so I'm essentially breakeven at the moment. This stock sure was volatile today....
Here is the chart I promised. I should probably state that I'm not too sure if I have drawn in the bottom line of the new channel correctly. I personally think that TZOO was in a downwards trend, leveled out (based), and is now beginning to trend upwards. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1032038>
Updated chart attached. Experimenting a bit with Bolinger bands so see if I find them useful, but they kind of clutter up the chart a bit... <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1035546>
if this stock is to go up WITHIN NEXT 2 WEEKS, it should never break below 18.30 level. 23.90 - 27.00 is the resistance area though
TZOO is releasing earnings before the bell tomorrow morning (April 18). One thing that suprised me is that they will be holding their conference call during market hours (I realize that some companies do this). My point is that the stock is quite illiquid, so I imagine that doing so would potentially have an impact on volatility. From a fundamental perspective, I'm interested to see how the share buyback is going. Updated chart attached. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1041788>
Well, I just woke up (was up late studying last night), and this isn't quite the result that I was expecting (this is only the second time that I've had a stock move on me like this). They sure did blow out earnings... I suppose that some would argue to hold onto this trade, let my winners run, etc.; but I'm opting to close out this position here (at little over $29, original entry was a pretty suboptimal $20.85). Going to continue to monitor from there for any set-ups, but I imagine that this stock is going to be all over the place the next few days/weeks.