A lot of rocket stocks bounced from oversold support on Monday. This may be a playable bounce.
For example, TFX, which I bought on Monday, has bounced from 1ts 15.2 lower Bollinger Band and retaken its 30 day average. I call this a low risk set-up. If the bounce fails to hold I exit and take a small quick loss. Note that TFX is above its recent green line top.
too risky, will fall more, and just a SMA 30 is insufficient.Poor call
Dr. Wish, you’re talking about 15.2, but TFX closed at 158.68 on May 2nd. Somewhere might be a typo.
15.2 Bollinger band => 15 period, 2 standard deviation Bollinger band. In this case the period is daily. http://www.investopedia.com/articles/technical/102201.asp
Time will tell…..