Monday, July 3, 2017

The Stock To Watch: iRobot

iRBT technical analysis stock chart

On our last stock to watch, I covered Nvidia($NVDA), where I wrote on any market pull back this stock is a buy. Six month later, it is up 40%, the only downside to our coverage was we were hoping for more of a pullback, which did not occur (the article was posted at Nvidia's lows).

Fortunately another stock has fit my proprietary trading algorithm, as you may of guessed from the title it is $IRBT (iRobot Corporation). It is rare in the last few years that a stock would fit my proprietary trading algorithm so perfectly as $IRBT. At the moment the stock is currently pulling back.

Once the stock stops pulling back, it will receive a significant bounce. For me to safely purchase this stock I would like to see it around the $60-65 price range. As seen with my call on $NVDA, I don't always nail the buy price of where to buy, but one thing is for sure, once this stock stops bleeding it will bounce hard.