RE:For the TA fans only.......this is the bottom if.....Ducksoup000001 wrote: Yes, your TA guy is back. Lucky enough to miss all the selloffs after mid April.
I CALL THE BOTTOM is reached today.
The long term support @ $2.85 to $3 was established. It was in the last week of August 2015 until the mid December 2015 this level was tested three times. During this period the institutional money has not poured in like the last run up. So it is a long term support line that has to hold.
The bullish pin candlestick finally appears at the bottom of this downtrend. All I want to see is a positive follow up tomorrow. A gap up will be a confirmation of a trend change temporarily and a technical rebound may follow.
Near term, Target price of the rebound is $3.46 - $3.59 before a pullback due to short term profit taking. This is a trader's stock and will last a while.
CRH is not out of the woods yet, the support line may be tested again. A long term V-shape recovery is not in the card. More data is needed.
Stay tuned.
[/quote
Hi Duck
Do you think CRH is forming a Double bottom