BullBear Trading: Stock and Financial Market Technical Analysis

iRobot Corp (IRBT) Rally Off Lows About To Slam Into Resistance

Shares of iRobot Corporation (NASDAQ:IRBT) have been surging off 52 week lows hit in December 2017. In December, this robotics company hit a low of $63 but is now approaching $90.00. Not only is it almost a 50% rally in a month, it is also a major resistance level (see the chart below). Expect a sharp pull back off the $90.50 pivot level. I will be looking to pick up some puts in this range or possibly short the stock. A pull back to $80 is likely.

Gareth Soloway

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