Interrupting the Bear Party in This Name

As I mentioned in my last post, I went long Pandora, playing for the heavily-shorted beaten-down name to snapback back before earnings later this month on April 23rd. 

On the daily chart, below, note the 50-day moving average (dark blue line) sloping down with price for quite some time now. If even a snapback, counter-trend rally is going materialize then I would expect buyers to finally be able to hold over it. 

In addition to very negative sentiment on the stock and company acting as a bullish contrarian sign, I am playing the current sideways consolidation, highlighted in light blue, to serve as a sign of sellers being unable to thrust price lower after the stock's recent plunge.

As always with high beta, counter-trend trades, supreme stop-loss discipline is key so that the winners can outshine the inevitable losers. Mine is below $15.75. 

Into the afternoon, I also have my eyes on AKS STLD X for potential squeezes in the steel names, too.