Why SPHS Worked!

This is the chart I posted up on my Street.com article on Friday. Let's dig into why this was on my watchlist and made the feature and why it was a great R/R for a trade. First and foremost, the market has been blowing up small bios, so right there you know I am hunting for any small-cap bio with a decent chart. SPHS was in a pretty tight consolidation pattern and you had a double bottom at 42 cents. Look at the RSI it was making a higher low pattern as it trended off that gap-down oversold condition. SPHS was flagging off the 53 cents fade, and it was for the first time in months tagging its 50-day. Right sector, right chart and once you saw the volume come in this morning it exploded. Your R/R was soo good here it was ridiculous when you put all the factors together. That's why I featured it and what a move up over 100% at one point intraday. 

Posted to Zero Sum Trading on Feb 27, 2015 — 10:02 PM

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