Hi Hopeful,
I was in it for a short term trade. I got in at 4.09, had a price target of 4.4. It got to 4.27 and folded and I got out about even, when it broke the 20 moving average and uptrend.
There have been strong fundamentals with the recent profit upgrade. I assume it just got dragged down with the market.
Re technicals, I'm surprised it didn't hold at $4. It is a key psychological level and there was a 50 day moving average and 0.618 fib extension there.
It is currently holding and bouncing off the .782 fib level. I like the long wicks on the daily. Three ascending in a row. It means that sellers pushed the price down during the day but buyers came in and bought it back up. $3.88 needs to hold and keep bouncing off here. Otherwise, it will probably head to 3.76 to 3.78 next.
Upward targets being 4.10 and 4.28.
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