RE:RE:RE:RE:RE:RE:RE:RE:RE:Getting oversold yallYes, it's not likely but that's why I said I'd 'love' it since it would be an easy buy down there for a quick sell at the top of a bounce, most likely within a day which would be ideal for me.
I'd expect any retest to take it down to almost .235, but not quite there. The higher the low, the better for bulls. More likely a low would be set around .25
When I say 'set', this means it would bounce off of it and establish a higher high (over .29). When it makes the new high, that 'sets' the last low in my TA. Like I mentioned before, not all traders wait for confirmations, and I suspect some of them have moved into N already based on the unconfirmed bull signals this week. They may make more, but also risk more. I can't take any chances with N, at least until the upcoming financing is behind us.
Moetown1 wrote: Look at the level 2 Steve, looks really really thin on the asks. Seems like it could run more making the dip down to .24 pretty extreme. Would be almost a 30-40 percent drop at that point no?