RE:RE: New Suport Level68dart wrote: I don't like the way the stock has performed in the last week, looks like it is rolling over. for a professional technical analysis jon vialloux is on BNN market call on wednesday maybe someone will call in.
If you're looking short term in terms of MACD and the moving average cross down that I just posted these signals are short term bearish. However take a look at that 6 week trend line which we bounced off once again earlier. This is a very solid support line and despite the bearish indicators we are holding up very well. What I'm most concerned about short term is to see which way we break as we approach the apex of this wedge later this week. I suspect with the 50 day accelerating and approaching the 40 cent region, as well as the 200 day finally starting to turn upward we are in great shape here. The medium term trend is well intact and I suspect very worse case scenario we bounce off the 50 day which would be a huge buying scenario.