Who is sponsoring the upcoming network show, where, and when? It seems to me that taking a large position in CS prior to earnings or pre-announcement is really rolling the dice for a short-term trader. If CS delivers, you win. If not, the stock will probably gap down several points and the investment is dead money for perhaps several months. Apparently, someone else is nervous about the stock on a short-term basis or they would not have sold 1,000,000 plus shares on Thursday.
Although the stock is coming back down to oversold via the stochastic TA indicator, the MACD is starting to turn negative as the fast curve is just now penetrating down through the slow curve. Also the stock price is now in the lower half of the Bollinger Band and its lower band has turned down.
I think the specialist is being very cagey with this stock or at least someone is in supporting the stock continually at the obvious bottom of 13 1/4. They made sure it went back up from 13 1/16 back to 13 1/4 before the close on Friday.
Nevertheless in this descending triangle formation for CS, the rallies are going to lower highs all the time, which looks like a weakening situation.
Why are you people so convinced that in the SHORT TERM this stock is going to go back up through 14 instead of breaking its bottom support and dropping below 13? At this point, ie, the close on Friday, it looks almost impossible to predict the near term movement of the stock, ie up over 14 or down below 13. It's also impossible for small investors to predict whether the earnings will meet Zacks estimate of 7 cents for the current quarter.
Any agreement or disagreement out there?
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