RE:RE:REMARKABLEOn the whole lately, Bombardier has traded on its own merit. Yes, macro factors do come in to play, but these seem more to be temporary impacts at best to the overall upward trend.
The current gap fill shows down to $62, 27, and after a 1300+ point drop on the Dow in the 3 days, that's no big deal at all. Even in a normal market, gap fills are normal, if not expected and healthy.
There are so many interesting crosswinds in the market right now. Well, interesting, and frustrating. It does blurr and torque the charting somewhat. While this is a general annoyance (in this market, it's hard to know what to blame at any given moment), it does also highlight Bombardier's overall strength to move forward in the midst of powerful headwinds. That's a good thing.
flamingogold wrote: Actually, I think the stock could let some steam off here going into the FED meeting at the end of the month. A pullback would be normal and healhty.
Starsearcher80 wrote: It's quite remarkable that the Dow can be down over 1000 points the past 2 days, and looking to be down another 225 points on the open this morning, and Bombardier continues to show real strengh. The broader market may have created what looks to be some false resistance at the current $63/64ish level, as I really can't see anything else that provides resistance at this level.
So no worry to me. The broader market will do what it does, and in this case, will exhaust itself at some point. Then the typical relief rally should provide assistance for the stock to resume it's run up to the $71.00 level, which looks to be the next level of technical resistance.