hello jeff, hello teresa and everyone,
someone gave me the link to this board !!! and the first person i've noticed when i came in .... it's Mr. White <GGGGGGGG>; and of course teresa <G> !!
teresa; we've never talked before, dont bother scratchin ur head !!! <GGGG> i hope u dont mind me being here !!!
so compx broke the wedge to the down side !!! by the way, it WAS a bearish wedge; perhaps not with a text book definition re: descending volume, but definitely with a negative divergence in its MACD !!!! <sorry; just have to butt in - GGG> !!
since the wedge and along the channel have been broken to the down side, it has been trading within an intermediate term down trending channel where today's high represented the resist at the upper band of the flag @2550+/- <ought to be @2500+/- tomorrow>, and the lower trend down trend line of the channel ought to be @2350+/- tomorrow !!!
now the question is ... although the candle indicates a bearish pattern today, but since COMPX is now overshooting its lower b-band, with its strong trend line support coming up @2400, the option expiry being this friday, the MACD and RSI both indicate short term positive divergences .... Will the COMPX descend lower tomorrow, or will it rebound to test the upper trend line of the flag/channel @2500+/-, which if broken, will in turn send it higher to retest its 10dma @2600, and its january's broken trend line of the channel ?????????
any speculations ??? <G>
regards,
auto
ps. teresa - nice board and great charts !! <G> |
