COMPX 06/21/01
compx negated the bearish engulf, rebounded @50% retracement of the april's broken wedge @1974+/-, and replaced it with the reversal pattern, bullish piercing line, today !!!! thus, there is a good chance that it'll head higher tomorrow morning, but where will it close is something we'll have to find out !!!
keep an eye on the key resistance at 38.2% retracement of the april's broken wedge, which is trading in conjunction with the 61.8% retracement of the current down trending between 2187-1973, and also in tamdem to the upper down trend line <started from the rite shoulder>, all @2055+/- tomorrow !!!! successfully breaks 2055+/-, the next key support should come very quickly @2084+/-, and the neck line of the broken h&s @2119+/- !!!
on the other hand, should compx fail to ascend higher, keep an eye on the several key supports @2025, 2006, and 1982+/- !!! should compx fail to rebound at any of these supports, the likelihood of it testing its 61.8% retracement of the april broken wedge @1890+/- is substantially incremented !!!! however, there will be 2 additional soft(er) resistances between 1982-1890 @1953, and 1924 respectively !!!!
as always, observation only ... and i maybe wrong !!!
regards,
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