The Third Pitch From OpenTable

• Posted by Greg Harmon
• on March 5th, 2014

Spring training is underway and we are just a few weeks from opening day. You could not imagine it if you saw all the snow on the ground here still. But baseball is on my mind and that inevitably leads me to applying it to charts. One that is of interest is OpenTable. OpenTable, $OPEN, has been working through a series of stair steps higher since bottoming in 2012. The last three are shown in the chart below. The pullback to the Simple Moving Averages (SMA) has been a good entry point. That first strike (assuming you missed it) was February 11th. That is understandable as it was prior to Pitchers and Catchers reporting to camp. But an equally good one has been the break of the channel higher. This happened February 25th, about a week into full training camp and was confirmed on a retest. No excuse for that one if you had been practicing all winter. Now it has moved up to prior resistance. This is your 3rd chance to enter. A move over the blue resistance line triggers an entry and a continuation towards the Measured Move to 92. This has support from the RSI rising and bullish and the MACD also rising. 3 swings of the bat. But 3 Strikes and you are out.

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