Ridiculous Chart

[steelman]

RDWR has a very nice looking up trending chart and $CMPNET is a great sector right now. I picked up some June $20 calls. There was a good buying opportunity the week of Feb 8 about $15.50. Today it's at $18.75. I don't like chasing stocks, but I just found this one today and the chart looks good. I don't see how we can't make money on this one. Wish me luck!
Best,
Steel

[skiracer]

Steel,
it is a great looking chart and a nice find. but timing is always key and this one may not be in the best timeframe for an entry. it's had a long and big run up and will need to correct sometime soon. i see two significant bullish signals in the moving average crossovers and the heavy accumulation volume that has been flowing into the stock. but there is plenty of room for profit taking and that is the name of the game. there are also several things that point to an upcoming correction. here's a chart of the weekly and what i see in it. either way you are already in the trade and good luck with it.

[steelman]

Volume

Ski,

There has been huge volume with RDWR the last 2 days compared to the average. Is there any way to tell what is causing this? I did pick up some June $20 calls. If you still think it will correct some, I should take some profits now and re enter when if it corrects. It has had a nice little pop since 3/11-3/12

Thanks,
Steel

[skiracer]

[QUOTE=steelman;103847]Ski,

There has been huge volume with RDWR the last 2 days compared to the average. Is there any way to tell what is causing this? I did pick up some June $20 calls. If you still think it will correct some, I should take some profits now and re enter when if it corrects. It has had a nice little pop since 3/11-3/12

I took a look at the weekly steel and i think it is nearing the end of it's 5th wave up and should move into the ABC corrective waves very soon. that would be down overall and then if the strength is still there another 5 wave series up again. i think it is getting ready to correct. it is in the overbought area above the 70 line on it's RSI. the 50 ema just recently crossed back over it's 100 and 200. i think it will correct here shortly. take a good look at it's weekly and what i have stated and weigh all of that into making a decision. there is nothing wrong with taking a gain when you have it.