Looking for a bounce trade? Here’s the real thing on RealPage (RP) (October 01, 2018)
RP
I want to look at RealPage ( NASDAQ: RP ) today. This is an IBD 50 stock and it is down big today on twice-average volume, which is not a good sign. If you just look at the stock you can see that this has happened a few times before, like this time on big volume, this time on big volume and you can see this stuff back here. So this type of stuff does happen; every time it happens (just drawing a down and dirty line here), every time it happens it turns out to be a pretty good buy point.
So what you can do is, look and see how the stock trades tomorrow. I would draw a line in the sand at $60.00. If RealPage ( NASDAQ: RP ) falls below $60.00 then I don’t think you want to buy this stock. Let’s say maybe it gaps down in the morning, I don’t know if it will, but if it comes back down to about $60.00 or so, right around the 50-day moving average and then starts moving higher, well, you could have a 10 percent trade in the bank pretty quick. That is how I would trade RealPage ( NASDAQ: RP ); I would just make sure I have a pretty tight stop on there.
Free Chart