Eyeing up WETF for a possible Buy above 8.87

Stock WETF

WETF Daily Chart

WETF caught my eye today on much higher than normal volume (19.3MM shares vs a 10 day average of 1.7MM) and the chart looks to be possibly forming a bottom. I like today’s close above the 8EMA and that it is coming out of the oversold stochastic territory. WETF found support in the 8 dollar range in November 2016 and therefore would be logical to happen again in the same area. I’m interested in going long if tomorrow’s session can break above today’s high of 8.87. Would be targeting at least 10 to the upside and would cut and bail if itĀ falls beneath yesterday’s low of 8.30.