The Company provides domain knowledge in the areas of signals intelligence (SIGINT) and sensor signature processing. Its SIGINT include communications intelligence (COMINT) focusing on broadband and tactical wireless networks, and electronic intelligence (ELINT).
Applied Signal Technology seems to be trading off its low today with positive signals intact. Trading down off a very large move up off the March lows, this stock may not be done heading down by any means not hitting its 38% Fibonacci retracement level of approximately 20.27.
Having traded close, 21.57, and signaling the possibility of a move higher with a nicely tested MACD 30 minute crossing with a RSI below 30, to not trade it responsibly would be to ignore the opportunity. If so, hopefully for a better one.
The 30 minute chart from the most recent high of 26.72 to the current trading low appears to have made a five wave Elliott Wave sequence if you look at the previous 6 days on this trading time frames chart. This can sometimes further solidify a 30 minute wave reversal.
However, because of the current price level relative to the March lows of 10.73, this could be a short trip higher or a quick trip lower to the 38% retracement level before correcting again. If this five wave leg lower is the A wave of a much larger parent ABC wave correction to the downside, we can expect a 3 wave positive correction here, then another 5 waves down, before the parent wave of our trade shows signals of reversing to the upside.
We are only concerning ourselves with the 30 minute trading time frame in this analysis and the 30 minute trading profit and stop loss levels.
We look for these same trading signals in all of our stock picks, using tight stops and relatively short term trades for reliable yields to the upside, protecting capital to the downside.
The short term trade analysis for APSG is being tracked in its trading alerts page.