RE:RE:RE:RE:RE:RE:Silence Pandora wrote:
The lows and highs for the last four 21 day periods is as follows:
Starting July 5 = Low - $2.54 High - $2.89
$2.68 $3.07
$2.50 $2.77
$2.57 $3.01(Oct. 11) (review ending Oct 18)
So for 84 days we have ranged between $2.50 and $3.07 breaking $3 no more than a half dozen times and being below $2.55 no more than a half dozen times. So $2.55 to $3 and currently at $2.77 and you're saying it is in retreat and will continue lower???
July 5 $2.54 October 18 $2.77 (which is pretty much the median between $2.54 and $3.01)
Are you possibly hoping to get back to $2.54? What are the odds?
Yes, I am saying BUS’s SP is in a short-term retreat and will likely go a few cents lower. I think the bottom for this current pullback is near.
Pandora, I think you have read into my post a lot more than I intended. I am talking about making a BUS purchase and I always look at the price pattern over the past 3 months like you did but I also look closely at a much shorter time period when I think about buying. I am bullish on BUS so I am looking to add shares on a short-term pullback which is exactly what I see here.
BUS started the current pullback at $2.95 on October 11. It has been in a short-term retreat for the last 5 trading sessions and closed today at $2.77. I don’t think BUS will drop to $2.54 since $2.72 to $2.73 appears to be an area of support so I don’t expect the SP to go lower than that unless some bad news appears and I don’t expect that.
That is why I say I plan to buy more BUS soon. Time will tell if buying here was a good idea.