Almost There
Back in two early February posts I called for AI to have a blowoff spike and then enter into a correction to head back to fill the gap near 16. Today’s decline is getting close and while it is possible the stock won’t have a daily close below the 200 day mvg. avg near $17.35, one can put in bids at $16 and even try for a dip to just above $15. This is very volatile and it has wild swings so it is worth trying to get it at those lower levels. For now this is a trade that may or may not prove to have long term value. My patience of waiting for the gap fill at 16 being likely, when the stock was at 30, appears to have been correct. Only time will tell if it works out on the upside going forward?