Stamps.com has dropped about 10% since I posted it last weekend and JD wants to know if this is a good entry point. The stock sliced right through the trendline I drew last week but it did find support at 20. This actually looks like a pretty good spot to try it long. The reward:risk should be good assuming a target of at least the old high of 22.88 and a stop just below Friday’s low of 19.6. (I might actually use the upper Bollinger Band as my target, which is just over 24) I’d wait for the stock to prove itself by breaking above the blue downward sloping trendline before I’d buy it though.
