Concordia Healthcare Corp. T.CXR.R

Link to chart

[Craigbad]

https://www.investopedia.com/articles/trading/06/esm.asp

[ShortAttack]

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[Craigbad]

yesterday/today was the retest of the moving average on the esm generic model, should be blue skies from here on in!

[Marcel7]

Is it just me or does that volume spike look a little phallic?

[Craigbad]

Lol! Those volume spikes certainly get a rise out of investors who follow the model!!! 

[argentia77]

Craigbad: How accurately would ESM have predicted the $25.50 price floor of CXR on October 21?  It doesn't look like condition 5 and 6 was met: "The 40 and/or 50-day moving averages must be broken.  6.The 40 and/or 50-day moving averages must then be retested and hold."  But maybe I'm looking at it wrong.

[Craigbad]

 October 21st was the volume spike where the $25 low was hit which is the first stage. I don't think its possible to have predicted the low, but the technicals i had posted before gave a target of $33 but figured it would overshoot, seemed crazy at the time but played out nicely. We are coming up on the first test of the 50dma. Normally i would expect a pull back but there are some other

[argentia77]

Thanks for your explanation. Pls don't take this the wrong way, although I think TA is a powerful method of analyzing what *has been* and a good analyst, as you obviously are, could use it to establish reasonable short term price targets, I'm skeptical about its usefullness in predicting what *will be*.  Unless new information comes to light, there are just too many unknown variables