Angie’s List Inc (NASDAQ: ANGI)

Angie’s List, Inc. operates a consumer-driven solution for its members to research, hire, rate, and review local professionals for home, health care, and automotive service needs. It offers member services comprising member-generated ratings and reviews that provide reviews from both members and non-members in 550 categories; and service provider services for members looking for reputable providers of high cost of failure services. As of December 31, 2012, it had approximately 1.7 million paid memberships in 219 local markets in the United States. The company was formerly known as Brownstone Publishing, LLC. and changed its name to Angie’s List, Inc. in April 2010. Angie’s List, Inc. was founded in 1995 and is headquartered in Indianapolis, Indiana.

Please take a look at the 1-year chart of ANGI (Angie’s List, Inc.) below with my added notations:

1-year chart of ANGI (Angie’s List, Inc.)

ANGI has recently found support at $18 (blue), which was previously a brief resistance as well. In addition, $20 has been a strong resistance (navy) level over the last month or so. If you look in ANGI’s past you can also see that both $16 (brown) and $14 (pink) have popped up as support and resistance areas. So, in addition to showing clear levels of support/resistance, ANGI is also showing that it tends to react to each $2 increment.

The Tale of the Tape: ANGI is currently trading between its $18 and $20 levels. A long position could be entered at $18 or on a break above $20 with a stop set below the level of entry. If you were looking for short trades on ANGI instead, a break below $18 would provide you with that opportunity.

Would you like assistance in making your TBS trades? If so, email me at Christian@yolopub.com and let’s talk about working together one on one!

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!

Good luck!

Christian Tharp, CMT