Linamar Corp T.LNR

50% Fibonacci hit, high volume recovery

[cleareye]

LNR hit a 50% Fibonacci retracement from the high after March 2020 lows, at around 3pm

I am encouraged that after hitting 57.69 at 3pm the volume of the recovery from 57.69 to 58.76 close was very high. So, it wasn't just a drift upwards after the shorts cut out on a Friday afternoon to their weekend ski lodge.

This very unpleasant drive from around 64 to 57.69 was probably shorts pushing the price down to pick up cheap shares before the Q4-Yr End results due out March 9th.

There may be a little unpleasantness for the first hour on Monday if some margin accounts have to be repaired but after that I imagine we're clear for the upward momentum to continue.

This is all somewhat contigent on the outrageous war in Ukraine.

cleareye.

[Zaphod]

So down 20 bucks in a month five or six bucks in two days and you're excited about $0.07  you can blame the shorts or you could just blame bad fundamentals you can expect the upcoming financials are likely to disappoint and this is gonna snowball South of 45

[cleareye]

Well, I think I should always admit my mistakes and I was terribly wrong about the future of this stock's price in my post Friday afternoon. Good company, wrong time to own it. cleareye.