Buy Scalp: Continental: CAL (41.77) Upward buy divergence after long selloff suggests bounce higher

Rationale: After selling off since its 52.40 peak, CAL is very oversold and suggests a bounce at these levels. 60 min chart suggests a strong buy divergence while ADX numbers appear to be peaking out. On the daily chart, look for a price target up to the 5 day EMA (42.88).

Target: 42.88 (daily 5 day ema)

Stop: 40.75 ( below Jan. 29th low 40.93)