We have had some fun with this one before. I do not normally recommend the purchase of a fata morgana at any price, however, for those that are disciplined this may provide an interesting opportunity. Here is the chart;
For almost a year this one has been going sideways, and as the saying goes, “do not sell a dull market”. Now maybe I am seeing things that are not really there, but it sure could be a very nice triangle which would then imply another, similar , leg up with a target around $22 or so. That this is not entirely a pipe dream I have added the long-term chart, below.
Remember that you are buying real estate, in the middle of the desert, and hoping that the gambling proceeds will pay the rent. Clearly not for everybody so discipline is required. Either use options and/or place a stop-loss at $9. At roughly $11 right now the risk /reward profile is a pretty attractive one of $11 up against $2 down.