Long

EVRI Simple Play Off Support

Updated

I really like this company so I am a little biased. I usually wouldn't add to a long term hold off of a dump, but you know, stuff happens. Assuming this plays out right, I will probably sell 3/4 of my position at the top of the bounce and keep the rest as a long term hold. Once this name loses momentum it moves really slow which is why I'm playing it this way, lol it is way too boring to watch every day. Regardless this should be a nice play off support.

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Haha Wow it dumped hard right when I posted this. This may be news related. Hold off until this plays out some.

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Looks like a poorly timed market dump. At least it doesn't seem to be company related. Assuming it doesn't lead to a larger breakdown, it could lead to a better play. We'll see

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Haha what a day. You never want to try and catch a falling knife. But of course the Bulls are going to buy the dip, isn't that what always happens? ;)

On that note, some wise words from what I've learned from getting my butt creamed: Don't ever try to rationalize the markets, use news (company fundamentals are okay but it takes a lot of research), or opinions on the economy ect to influence your trades. It doesn't matter how smart you are, there are too many variables in the world to consistently predict price movement that way. Just stick to your charts, they give you all of the information you need.

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I took a small holding at 7.94 just for kicks. That may not be the ideal way to play it, but considering the Bull Market and support I like the odds. Also, I like stocks around this price range because it's easier to manage risk if you slowly build on the position.

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I shouldn't of posted that buy because it was just a small bet for kicks and trying to catch the falling knife. But as Technical Analysis goes there have been no buy signals. The buy signal will be when a Bullish Reversal Candle prints, and is followed by a candle that closes higher than the body of the previous candle. BTW inside candles is always a great way to play stocks in a tightening pattern. When candles go from large to small and each one is inside the body of the previous candle, a break higher or lower than the previous candle's body is a great, easy to read indication.

charlie12

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