By Jeff Pierce
Sept 3rd Update – RSI 40 should be a bottom – IF it goes that low. We may have seen the lows on this correction in WAGE today.
This is a picture perfect chart setup for the sort of stocks I scan for each night for tradewithZEN. Much like CAVM that I pointed out last week, this one only trades about 370k / day so it doesn’t meet my 500k minimum, however this is a good setup to train your eyes for stocks that will likely outperform the general markets.
Strong RSI, Strong ADX, Big Vol on Catalyst = future price appreciation. It also helps that this is a recent IPO (2012) and it’s hitting all time highs so there won’t be any resistance whatsoever. Keep this stock on your radar and buy any 8-10% corrections as they will likely be good buying opportunities.