Long LITB on channel support

16 בספט׳ 2016

Long LITB on recent channel support. Price action has moved back down toward the '16 channel on the daily chart and successfully bounced higher. I look for a pop on earnings next week with big upside toward the ~3.50 region. With a shallow stop at $2.70 the risk/reward on this trade is fantastic (3:1). If you follow my 10000 USD base account recommendations I advise taking a 500 share position at $2.90.