Cacaito,
VVUS's rise since 8/20 has been pretty vertical. Linear regression channel lower line is about 32, but with this steep channel it's hard to say where. Optimized Parabolic S&R puts support at 28 5/8, but its so far behind, again because of the steep rise, that it has a lot of catching up to do.
A Gann box drawn off the 8/20 low instead of the 5/13 low showed resistance at 37 vs. the 35/36 using the 5/13 starting point. Less data, but more accurate in this instance. IF VVUS moves down this resistance line, it would reach trend support at 34 3/8, but wouldn't reach Gann support till 32 1/4. Lots of figures--take your pick<GG>. Your range of 32-34 fits almost all of these possobilities. Was itching to sell rest of position when it hit 37 and go short for a few days, but didn't have the cajones--TA's, Tim's, Rubble's, et al specter of a short squeeze keeps lurking in the background.
Regards,
Gary |
