By Jeff Pierce
9.12 Update – We did in fact get the pullback I was expecting when I originally wrote about this back on August 2nd. It even managed to squeeze a little higher and those that didn’t heed my advice to trim/sell has had a 30% pullback to deal with. This will likely need another 6-8 weeks of moving sideways, consolidating it’s gains before this will be a potential buy again.
DANG has been impressive and based on a measured move playing out and coming up on long term resistance I think this stock is getting ready to pause and consolidate it’s gains. Watch the weekly RSI for a return to the 40-ish level as that could be an area where this could be a strong buy. The weekly RSI is so strong and suggests that this will be much higher 3-4 months from now although expect some short term weakness.
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