TIBX came out with earnings last night, handily beating estimates, and the stock is poised to gap-up on the open this morning. This would constitute a buyable gap-up as long as the stock opens up .75 times its 40-day Average True Range, which currently is .54. This would mean we are looking for a gap-up of at least 40.5 cents on the open, and once the stock establishes an intra-day low an initial position could be entered, using the intra-day low as a guide for a stop. We do note a pocket pivot three days ago on the chart, which looks valid in the context of today's action although it was of course a function of Friday's triple-witching volume. In any case, we are watching this on the open to see where the gap-up becomes buyable.
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