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PPR - Watching for a Pocket in Rovi Corp. - ROVI

ROVI Corp. is an interesting situation here as it sets up in a base-on-base formation, as we see on the daily chart, below, as it has continued to hold its ground within an overall market correction. With Wednesday's Follow-Through-Day (FTD) in force, we would watch for a pocket pivot to develop here. IF it occurs on the first trading day of this coming week, Tuesday, it would have to exceed 2,088,300 shares, the highest downside volume bar within the last 10 days, exactly nine days ago. If it occurs after Tuesday, however, it would only have to exceed 1,473,100 shares, the amount traded on the downside volume day of two days ago. Subscribers have asked to throw up some Pocket Pivot ideas we see as not pocket pivots just yet, but which have the potential to be under the proper price/volume signature that defines a pocket pivot buy point.


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