$ENTR was one of the featured stocks in the last edition of StockTwits 50. On Tuesday, the stock gapped down on report that the company will make a secondary offering of 10 mill shares, which represents about 13% of its current float. Buyers took advantage of the dip and stepped in right above the rising 20 day SMA – a clear sign of institutional support.
The market quickly shook off the news and it sent the shares of Entropic communications Inc to new all time highs. I opened a pilot position at $9.99 with a stop at Tuesday’s lows at $9.10
