Funny how everybody is so taken away, and pissed at CPQ's performance this past week, for dropping down a whole ONE DOLLAR....hey, I know another great stock, actually, several great stocks that dropped this week, or went nowhere...one great example is MSFT, which is the most accurate indicator to date of where the market is going (according to an article in the SF Chronicle Sunday paper 2 weeks ago).
IMHO, I think the drop in CPQ's price on Friday is directly due to the bad news that hit SMOD...nothing else...but then again, I've been wrong before...
The stock moved from 30 to about 37 two weeks ago, 50% retracement would be the 33.5 level, we havn't breached that level yet, actually, we are now above the 50 Day Moving Average, but below the 10 DMA...past rallies in CPQ, and other stocks turning around technically have had similar situations like the one we're in now...2 -4 weeks from now we should know who's right...I say above the high of this past rally (37)...but again, I may be shhhmokin'!
Go CPQ! |
