GREY:MLKKF - Post by User
Comment by
georearlon Apr 05, 2010 1:42pm
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Post# 16957192
RE: RE: RE: Technicals
RE: RE: RE: TechnicalsAnything I could say would be a guess. What I can see is that $2.20-$2.25 if a support level. My first guess would be that it will hang around this level for a while. I also think, given that and the recent volume spikes, plus trading outside of the bollinger band, that there is some short term moeny to be made. I guess it will pop up a little. The support is based on the price touching this level and bouncing up back in early Sep, Nov and Feb.
If the TA shows a turn at this point, I'll certainly post.
If it breaks thru this level and closes there over the coming week(s), the next stop is $2.00 based on a support there where it touched in Dec. If it breaks down through there, it could go someway further.
To add to my last thought on technicals (the crowd) following the fundamentals, stop orders help dirve this. People only have so much tolerance for loss, hence as it drops, more and mroe sells come into play. Until the sellers are exhausted and it starts to consolidate.