Back in late May I analyzed PETM to demonstrate the development of a possible breakdown-pullback to gap fill setup. This setup can take time to develop, but can be quite profitable when it does.
Notice that since that time price has bounced back up to the bottom of the breakout bar, This is common. In time, I expect to see the gap get filled. If it does, $62 will be an excellent short entry. The gap-fill is a simple, yet profitable strategy.
2 comments:
Paul,
Have you seen the price of PETM lately? Nice..
It is very useful information to the people who are new in stock market. You have to be very careful at each and every step while investing in stock market. Thanks!
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