Nice weekly candleWith a weekly close above the 43.30 open. That is what I was hoping for. Been a big week. 25.04 to 45.59. With this close above the week open, technically, this stops the 7 weeks of lower lows and should move back to previous weekly areas. Oct 12 week. Nice news release was ignored because of VRX hassle. 37.59-48.24... Oct 5 news ignored .. 45.03-58.26... And finally sept 28 week of the 520 million offering closing. Also ignored. 45.85-75.36... I expect this to Lang very quickly( with DOW and market support) close to that sept 28 week high which is also supported by the min retracement(very conservative) from 117 to 25 on no good reason for the dump. .... For you that think this week was a big up, have a look at the weekly downs the past 7 weeks.
"................".................".....................
Lesson1... Pay attention to past moves. They can and do repeate. Remember mar 9 on the covis buy and a 110 target set when trading at 64.00 ? The next week 91.00.... 25.00 in 1 week and then did not settle down until 104.00. So this 20.00 move in 1 week from oversold 25.00 is just shorts getting their "cummings" :)
"......................".......................".................
NOW.. For any out there experts on weekly bottom oversold candles, could you give your two cents worth on this past week candle on cxr? Much appreciated. The weekly appears to be a doji pattern to me, much like jun 29 week. But, I also think we may have a may 25 candle except for the fact that close was slightly below the open. I think that, because they had 6 out of 7 weeks of lower lows there also, how it, not the percentage drop this recent one had. What I am getting at, is the following week was a humdoser return with an open at the low and close at the high and a 14% move over the following week. That would give this 49.82 next week based on that same 14% return. The only thing, that 7 week drop was only 15%. We dropped 15 times that in our recent 7 week drop.
So I just cannot get 75 bucks out of my head for next week.... after all that would only be another 20-25 dollar move . Fundamentals, m analysis, etc. point here. Weather next week or further down the road, I think we will get there. And for all you just fundamental people out there with a buy and hold forever mentality.... If your fundamentals does not work here, you might as well throw in the towel!
there, I have said my 2 cents worth.