VJET: IPO Rocket Returns to Earth; May Fire Again

November 21st, 2013
in contributors

by Jeff Pierce, Zentrader

IPO's can be very volatile, yet extremely profitable if you can catch the timing. VJET reminds me a little of my FLTX trade suggestion. Strong chart..obviously overbought and due for a correction...RSI remains in bullish uptrend.

Full chart is shown after the Read more>> jump.

Follow up:

Any time-frame you are looking at the RSI is in a bullish uptrend as long as it stays between 80-40, which VJET is clearly in that range. There is room for this to sell off further, so do go all in with a position, but now is the time to start thinking about scaling in so you don't miss the big bounce that is likely coming.


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