Some nice intra day activity. If it holds, the action could confirm the bottom, and at the very least, start the process of forming a head and shoulders on the weekly chart.
This means the stock could be on its way to test the high 500s/low 600s. (Will post charts later.)
PS: seeing a report that Doug Kass sparked the reversal w/ a stock split tweet. The timing makes sense, but a split doesn't cause a stock to rally.
The intra day action saw a clear high value spike around 1:30 - 1:50pm
That break upward facilitated a firming up of the daily chart via a higher-low rounding bottom.
If solid footing among the stock can maintain itself, there is a slew of obvious resistance markers on the weekly via the SMAs. The first level of resistance points are the 10SMA, and the low 500 (pre-Q1 earnings level). When sentiment shift, a simply shift that would facilitate the stock to be trading with a decent multiple, near 12-13, a the head-and-sholder pattern will emerge.
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