Yes, you are correct on both points. It lacks the volume I prefer and it is a very nice set up.
Since I don't know anything about the company, I would personally need the volume to feel comfortable with it.
If you follow the company, you may have a comfort level with them and it would be a buy if price can trade above Friday's high of the day today.
If the trade were to trigger today, I would place the stop 6-12 cents below Friday's low of the day. |