The Active Network, Inc. provides organization-based cloud computing application services to business customers in North America, Europe, and internationally. The company offers ActiveWorks, an organization-based cloud computing platform, which transforms the way organizers record, track, manage, and share information regarding activities and events. Its ActiveWorks back-office system pulls customers participant management, operational reporting, volunteer management, and service and payment processing functions into one hosted system. The company also provides consulting services, which consist primarily of business mapping, project management services, and guidance on best practices in using its services; and implementation services, including system set-up and configuration, and data conversion, as well as develops customized training and education programs relating to both the use and administration of its services. It serves a range of customers, including community and sports organizations, large corporations, small and medium-sized businesses, educational institutions, federal and state government agencies, non-profit organizations, and other related entities.
Please take a look at the 1-year chart of ACTV (The Active Network, Inc.) below with my added notations:
Back in June ACTV peaked at $16 and sold off heavily after that. While forming a base over the last (6) months, the stock has been hitting a very important level of resistance at $6 (navy). No matter what the market has or has not done since November, ACTV had not been able to break through that area of resistance. Well, earlier this week the stock finally broke above $6.
The Tale of the Tape: ACTV had a key level of resistance at $6 that should now act as support on any pullbacks. A long trade could be entered on a pullback to $6 with a stop placed below that level. However, if the stock were to break back below $6, a short trade could be made instead.
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!
Christian Tharp, CMT