AT and all - I'm back. That $38 to $38.50 figure is for Sept 17 thereabouts when the stock's price is crossing back DOWN across its 1st X-over.
I was trying to find a message I sent to Striker earlier in the month about the best price before then. I can't find it so I went back to the chart.
The absolute best I expect is $45 on Sept 3 (the chart would permit it to go higher, but if it does I will be preparing to short).
I've drawn my chart with a range of the best path and the worst path up to the Sept 17 date.
The best path takes it to the $45. I should note that when the stock's price last went to $38.25 it also followed the most optimistic path perfectly. Also, since it has left the trans-set line that I've referred to for the last several days, in the dust, it looks like it wants to take the high road again. Good.
The $38.25 it bounced off the first time is what we call a center-line indicator. It is a horizontal line. The first time it hits it, it normally bounces right off. The second time, it will be a mushy hit with a little hesitation before crossing through and carrying on. In this particular case, the line also crosses through the first X-over. No guarantee, but once this stock has committed itself to being above the center-line indicator, it probably will not come back down to it again until mid Sept in preparation for passing down through the 1st X-over.
In summary. It went up to $38.25 bounced back down. Now it revists $38.25 in a mushy fashion, hesitates then breaks through. It reaches a high prior to Sept 17 and proabaly during the first week of September. It may go as high as $45 on Sept 3. Regardless, it drops back down and through the 1st X-over on Sept 17 at $38.25
Hope this clarifies the confusion.
Greg |
