Support?
It isn't support if the stock stays above that level only on good news, and sinks below on bad news or sector rotation or market selloffs. WCOM low 38 so far today, the inflation red flags are waving in the bull's face, most investors have believed for the last several years that inflation is dead forever. And, in the last year or so, lots of nonsense discussed, about how the "new" economy is immune to interest rate hikes. Bull**it, and I've been saying so for the last year.
Support is broken, we're going lower, anything else is wishful thinking. That's what the chart and the headlines tell me. |
