GREY:XEBEQ - Post by User
Comment by
Arbourmarkon Apr 11, 2021 3:13pm
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Post# 32974690
RE:Technically
RE:Technically Well said TT!
tamaracktop wrote: Xebec looks very well set up for this week. It can be argued that it is now in an uptrend after its major intraday reversal on March 17th, when it opened at $3.76, rallied to $4.52, and closed at $4.29 on 5.4 million shares. Remember, the open at $3.76 was the low of the day. That was a huge reversal on volume. The stock was up 5.7% on the day, and up 14% from its intraday low. Xebec never closed lower than it closed the day before that reversal at $4.06.
A typical retracement after a big move in either direction is usually 1/3rd or 2/3rds of the preceding move. A 1/3rd retracement from the recent low to the high would put the stock at exactly $4.91. S4.88 is pretty close.
Xebec's close at $4.88 represents a gain of exactly 20% from its closing low on March 16th, and exactly 30% from its intraday low on March 17th. How's that for a mathematical coincidence.
The fact that Xebec closed Monday's gap perfectly on Friday, and never traded a penny lower, leads me to believe we've just seen a typical 1/3rd retracement.
It seems clear to me that we've just seen a trend reversal.
I'm looking forward to a good week. That's my opinion and I'm sticking to it. At least I have the balls to put my neck on the line and offer specific personal predictions. I'm used to it.
Unlike one or two here who say I'm full of BS, but offer no specific predictions of their own.
I'm sure you know who I mean.