weekly chart of the week

Looking for an open above $20.30 on Monday and a close above $20.77 by next Friday, without any dip below $19.90 during the week to confirm the hammer signal. A nice long white candle would be preferable but that's unlikely in this market. Shorter term traders should use $19.90 as the stop loss, whereas longer term unleveraged investors might want to use $18.82. Given the state of the market a long pick has its risks, but short positions also become more risky as the bear market progresses, as a sharp rally from oversold becoems more and more likely. Essentially, this is a good long to balance out what might be an overweight short portfolio for traders.