Barnes and Noble Resurgence, Fact of Fiction?
The answer is fiction, as long as Amazon is still around there's no room for Barnes and Noble. BUT, it just bounced off it's all time low ($4.25) after reporting it's earnings and it looks like we have a healthy rally to the resistance level from the previous cycle ($7.80 - $7.85). Given that it's currently trading at $6.30 and place a stop loss at $5.70 that calculates the risk/reward at about 2.5 which is a good bet under any circumstance.
With the gaps between the ascending moving averages increasing, the stock recently bouncing off it's all time low, and the RSI creating higher lows Barnes and Noble is a good play for the medium term. A stock that will quietly earn you money in the background while you concentrate on your day trades.
With the gaps between the ascending moving averages increasing, the stock recently bouncing off it's all time low, and the RSI creating higher lows Barnes and Noble is a good play for the medium term. A stock that will quietly earn you money in the background while you concentrate on your day trades.
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