KeyCorp (KEY)

Readers will see that KEY had been building a rising wedge from way back in November up into the present. This is a pattern of bearish reversal that one tries to ride until said reversal occurs. With the stock trading towards to bottom of the range, and struggling to maintain contact with its 50-day SMA, I had to wonder if the time was near. On top of that, both the RSI and daily MACD were postured in an aloof, somewhat negative way. The 200-day SMA would have been our downside pivot. This news obviously renders this set up useless and will likely see thesaurus break through the upper trendline of the wedge. It is obviously impossible at this time to automatically reset my pivots and targets. However, one thing is clear. I have switched my thinking from protecting profits already won, to seeing if this infusion driven overnight rally draws in other interest and how far the stock might go. I am long $KeyCorp (KEY.US)$