FIO has been in a downtrend for a while. I noticed huge volume in October when the stock was making a new low. After that we have a reversion that give place to a new low in price in December, but in this case RSI and MACD denied the new low, printing a divergence with price. Another thing that make me think that we have seen the worst is the fact that we regain the SMA of 20 days with decent volume.
I'm going to keep my long position if price can stay above the SMA of 20 days ($9,14) and that's gonna be my Trailing STOP.
I'm going to keep my long position if price can stay above the SMA of 20 days ($9,14) and that's gonna be my Trailing STOP.