Pocket Pivot Review - TEAM, WIX, FIT 8-30-16 and notes on LN, TWLO, SQ
TEAM - has had two 5-day pocket pivots in a row. 5-day pkts qualify when they are preceded by low volume, constructive price formation. TEAM bounced off its 50-day line and now appears to be moving higher with greater conviction.
WIX - Extended here, but watch for a constructive pullback to its 10-day line. WIX gapped higher on its prior earnings report.
FIT - This is a bottom-fishing pocket pivot (BFPP). FIT is rounding out its base. The time value could be big here as its next point of resistance is 13% away at its 200-day line. When a stock with the right technical pattern is still near the bottom of its base, it can sometimes make big strides in a matter of a few days.
LN - low volume retest of 20-dma.
TWLO - constructive low volume last two days after bounce off its 20-dma.
SQ - nice low volume pullback into 10-dma.
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