RE:Time to average down?GoodAtCharts wrote: Any technical types following along? Any opinions on when we are bottoming?
Goodatcharts, heres a copy of one of my previous posts from not too long ago. I think we're going to hit these markers. We're currently below the consolidation box (140-184) and I'd like to see it back above 140 right away. What I can't tell is if we're going to have a quick washout prior to any significant move which happens often. We're still seeing big positive divergences. These almost always precede significant trend changes or large moves up. I stand by these numbers......................................................,......... "Price targets for CNC 550 ish. Since some on here like to critique everything that's said, I figured I'd give some projected targets on CNC. Lol. It'll give them something to talk about...For starters, every year, stocks, commodities, Indexes etc put in a major yearly low. I think CNC put theirs in. Any move above 185 will confirm this uptrend. As I've mentioned, we'll get some resistance around 2 but I think we're going through it quickly. The 220 ish is a big one and I think it'll turn us back down. We could even hit 240-250 as I've mentioned but the averages continue to decline rapidly so those numbers keep getting revised down. From there on in it gets tricky pending company news, market sentiment etc. The quicker we get to those targets on no news, the better it is. I believe the Fed is propping up the markets prior to midterm elections. What I don't know is whether they start their decline immediately after or towards the end of this year. But believe me when I tell you, we are in for a world of pain next year when we hit the low for that year. That's why it's Important for CNC to hit these markers sooner. We can put a solid floor under the price. Basically what CNC needs to do next is get above major resistance $3 and make its way to 3.75. That's where we retrace big-time. That's a longer term line of resistance. I'm guessing retrace back to 3. From there I think we start another leg up which takes us above 401 which would completely change the trajectory of CNC. This would be final confirmation we have entered a new bull market. It would put the all time highs of 454 in sight which we'll eventually pass and then there's nothing left to chart. At that point it's wherever the market takes us. By the way, the projected target I get is 550ish (in the short term)If I measure from the 2020 lows...I know people want to hear 20-30 dollar targets but there's time for that. We have to start with baby steps. GLTA."