AIS gapped up and hung in the low $1.60s today, came close to just taking right off. The one thing I do not like is how the daily candle turned out. For some reason, its showing a high of the day at $2.00 which makes the daily chart hideous. I am hoping that does not kill the momentum, but we will see. I have a trailing stop at $1.58 right now which is just below the $1.60. I may move this to a manual stop for the morning, in case its volatile and low volume takes it below $1.58 for some reason. Although, in AH the bid is at $1.64.
Here is the support and resistance on the 15-minute intra-day charts that I am seeing. Watching the level II at both $1.60 support and $1.65 resistance, its clear these are both very strong. When we get to these points, the bid (or ask) sizes are in the 100k of share range which is a lot strong than any other area - it may have something to do with the nice round numbers. I'm tempted to exit at $1.65 because of the strong nature, but with the trailing stop, I'm somewhat okay with letting this play out.
FLOW
This one has now also played out as expected, we've bounced off support at $1.84ish and have now come back to resistance at $3.20. This was my target area for selling, but I haven't sold yet. I may be getting greedy and hoping it breaks out past $3.20. The reason I am hoping it breaks out is that I am not real confident in the strength of $3.20. Looking at the 60-minute chart, it almost looks like $3.07-$3.10 had been some area of resistance, which would mean my initial theory on target resistance was wrong.... I'm going to let this one play out a little longer as it is not that volatile, my trailing stop should be okay. I still have bigger hopes this can maybe trend upwards towards the $4.00 mark, but we'll see.
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