COMPX - 03/23/01
so compx rebounded from the upper trend line of the january down trending fork and the 94-95 up trend line today; broke both of the intraday bullish wedge, and bullish flag; then closed with the reversal 'hammer' !!! yes, it did slightly pierced through the upper trnd line of the fork and 1994-95 uptrend line today when it went through 1800+/-; however, the overshot was so small, i didnt even show up in the daily chart !!!
anyway, keep an eye on the 10dma and the 38.2% short term retracement @1939+/- tomorrow !!! it is necessary that compx closes above its 10dma, in order to establish a meaningful up trend since it successfully broke its short term 61.8% retracement @1883+/- today !!!! consider where the future is trading at the moment, compx may open rite at its 10dma tomorrow !!! fill the gap is fine, but i wouldnt want to see it's heading below 1883+/- tomorrow !!! if what i suspect is correct, compx maybe closing the week with a doji in its weekly chart !!!! should compx be able to close with the indecision 'doji' in its weekly chart .. we may already be trading in the early stage of the 4th wave !!!!
however, like what i mention earlier to kat ... i'm not sure if compx is heading into the 4th wave up, or the corrective 'a' wave !!! if it is 4th, compx may ascend as high as 2460+/- in the intermediate term basis !!!! nevertheless, if this short term retracement is the corrective 'a', i think we may have problem breaking and closing above its 10dma in the next day or two <dont forget, we need confirmation> !!! thus, how it opens and closes should be very important tomorrow !!!
S/T
- 1973
- 1939
- 1911
- 1883
I/T
- 2187
- 2112
- 2052
- 1991
L/T - from 2593+/-
- 2404
- 2288
- 2194
- 2099
L/T - from 2872+/-
- 2618
- 2460
- 2333
- 2206
observation only .... and i'm always wrong !!!
regards and good luck,
auto
ps. not an advice to buy/sell any securities !! |
