Rick,
Interesting point. The charts, right now, are indicating that there is a chance that it will drop further. The next support is in the $40.00-40.50 range, and this one appears to have some strength.
With the Hi-Tech sector doing so well recently, would suspect that, very soon, there will be a small pull-back/ profit taking/ rotation of money to the next tier of stocks(Mid/Smaller stocks) . We have to remember that CUBE is already up some 20 points from the summer lows, not to say that it won't go up. This small pull-back may also pull CUBE down also, but only temporarily.
Checked the 50 & 200 day moving averages for CUBE, and they will intersect within a few weeks, if not next week. The intersection of the 50/200 day averages is a benchmark for many indicating further move up, and in many cases strong moves up.
Frankly, feel that the year-end tax selling for CUBE is not a big factor now, but I could be wrong. If the tax-selling really becomes a factor, we could see CUBE breaking more than one support line, and head into the 30's, or lower - gut feeling is that it won't be that bad.
Charts actually show breakout upwards by middle December, after pulling back to the next support line ($40-40.50).
Good luck |
