dear all,
first, i am a new member of SI, and this thread was highly recommended to me by one of the contributor here which i met at the other message board !! i am here to learn/share as much information as everybody else !! thus, should i make any mistakes in any of my amateur TA's <i know i do>, please dont hesitate to correct me; thanx in advance !! here is what i think about the compx :
compx broke upper band of the down trend line resistance that formed the long term symmetrical triangle today !!! it now ought to be considered intermediate term bullish !! for the long term to be considered bullish, it has to break the intermediate term high @4289 first !! for short term basis, the only thing that's been bothering me is that it has already reached its overbought sentiments !!! since internally, the compx has been improving, only a small pull back should be expected !!!!
keep an eye on the today's high tomorrow !! should it not be able to make a higher high, taking the short term profit is not at all a bad idea <that's what i would do anyway> !!!!
here's the trend line supports/resistances:
- 4610
- 4475
- 4289
- 4185
- 4160
- 4080
- 4050
- 3980
- 3890
- 3820
- 3725
- 3660
- 3585
- 3521
short/intermediate term fib retracement <since it made a new high today, and only if it doesnt make a higher high tomorrow>:
- 3967
- 3928
- 3914
- 3870
- 3851
- 3826
- 3788
- 3725
long term retracement :
- 4606
- 4307
- 4107
- 4066
- 3995
- 3905
- 3824
- 3813
- 3666
- 3519
in addition, the support on the lower band trend line of the up trending channel, which also could be considered the lower trend line of the fork, ought to be @3950+/- tomorrow !!
should the compx not be able to make a higher high, and the consolidation start tomorrow, i really doubt that the compx will break its short term 61.8% retracement @3826 during this sell off !!
all in all, it's only my humble opinion; and i could be wrong !!!
regards and good nite,
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