EXPR @ Pullback
Updated
EXPR has been on a bullish run recently reacting to news about management efforts to return back to profitability including shutting down some stores.
It has just retraced from a high of 4.68 after getting overbought on the RSI indicator. This retracement caused a break down of the uptrend line and chance for collecting profit for those who were able to ride. Based on FIBO levels, EXP is expected to retrace to 38.2% level (4.46) which will be a good entry point upon confirmation of trend reversal to resume the Bull run again. We need to see strong volume of buying close to this level to confirm the resume of the bullish run.
The target then will be 38.2% extension line (4.91).
NYSE:EXPR
Note
EXPR had huge sell off which forced it to retrace to 78.6% FIBO levels. We have not seen any big volume of buying. We don't see an entry signal yet.
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