i disagree that this is an inverted head and shoulders.
chartwerx.com
in fact, if you look at the orange dotted line, that may be a double top. measuring its distance it projects a target of 104 which you can see a longer term support is moving into. you can also see the red horizontal that is coinciding with the 200 movavg you posted on your chart. this would be 2 reasons for a bounce if it were to happen, not bcuz of an inverted head and shoulders pattern. i just don't see one. a bounce would likely retest either the lost uptrend or back up to the orange horizontal.
on another note,(and thread) i was hoping to get some follow thru on the esr insights being talked about on this thread and trendsetters. i didn't get a response so here's what i have got on esr...
the debt to equity ratio is 3.47, this is based on lt debt of 765 and equity of 220. now examine the equity and book value, total assets are 1863.22, subtract from that liabilities, 1347.26, preferred shares, 295, and intangible assets, 795. thus, the equity is a joke. there is none. its a bloated intangible account that appears to give this company a book value of 3.00+, its book value is less than 0 based on the fact they do not have any real equity when book value is calculated properly. basically, it appears this company took on a large amount of debt that transfers directly to its intangible account. i would suggest people not rely on figures from internet sites, yahoo matches market guide's and zack's. however, i feel them all to be incorrectly calculated. pull the numbers off the statements and calculate them by hand.
book value
Definition 1
A company's common stock equity as it appears on a balance sheet, equal to total assets minus liabilities, preferred stock, and intangible assets such as goodwill.
milesov |
