MARK - Grade: B

MARK - Grade: B

Key Levels: 2.04, 3.18(P), 4.32

In play above: 2.04

Channel: 2.04 - 3.18

Massive Resistance at Pivot: 3.18

Knowing the history of this mover, I am skeptical with the movement potential for such strong recovery so quickly above 3.18. We will be sure to keep this in mind and play the chart technically. 

MARK, coming off of nhod, still mid range inside 2.04 - 3.18 channel but on the slow grind today.
This slow grind indicates more potential as this stable movement continues. Volume is light so the candles aren’t as pretty but I like this falling just short of premarket highs to test vwap during lunch and breakout past 2.53 after lunch/ early afternoon/ after hours

MARK testing vwap, remember we Buy on top of support and sell into resistance If you're looking for the intraday play on MARK it's nowish

MARK has failed vwap and will look to reset around 2.04 out of play for momo today.

We will continue to watch this for larger consolidation above 2.04 from the daily and a possible play later in the week.

To further clarify. At this point in the setup even if vwap is reclaimed we’d expect a selloff at an unpredictable time (if not 1PM EST which is our normal check time), and should expect lower highs and lower lows to follow.

OWChris WingfieldComment