Hope everyone got long this weekAll charts and long term downtrends are up and broken. Very unlikely this is just a relief rally.
New NDP SEGR and Taxes are now on the table and are no where near as bad as the selloff was expecting. I calculate the SEGR regs will cost COS an extra $8 million a year two years out. Taxes an extra 2 %.
50 day MA is at $11.30 and that would be my first target. If oil breaks out above it's trading range we should make the high of May. Thats a big if. COS does have a lot of ground to make up due to it's NDP selloff though so I think the 50 day moving average is realistic.
I use Heinken Ashi candlesticks based on 120 minute bars to make my trading descisions and they indicate a strong uptrend in place. Wednesday we broke a short tewrm downtrend and Friday we broke the long term downtrend.
Lookin good! Remember always use stops!