Range bound trading opportunity in VIPS.US

VIPS has been contained in a wide trading range (11-16)since Feb 2016. It reached the bottom end of the range in Dec 2016 and began consolidating. We saw a down move on the daily chart in late Jan 2017 but it quickly recovered alongside a macd divergence. Hence I suspect the sellers lack the conviction to sell through the $11 support, which offers good risk reward for a long trade.

Target $14.50
Stop $10.25

Komentarz:

Earnings report came out as a beat. Three cheers to the early birds who started buying since Dec 2016.