r3anand

believe it or not, there's more pain for air canada holders

Short
TSX:AC   AIR CANADA
A bearish pennant has been forming last few months since the March crash. This has just broken down which has opened up downside risk for the bulls.
Comment:
this updated line chart shows the pattern more clearly

Comments

This did not age well, lol.

I saw a similar pattern on my chart, I am just glad I didn't take the bait, saved by the FED.
+2 Reply
r3anand ScotianBot
@ScotianBot, haha yes didnt play out as expected. I actually didn't even take the trade but just posted as its quite a popular stock.
+1 Reply
ScotianBot r3anand
@r3anand, they need to make a new T.V show called saved by the FED, starring short-sellers who get roasted by the FED saving bankrupt companies, lmao.
+1 Reply
Oh boy, another bear going to the poor house
+1 Reply
r3anand JimJJ
@JimJJ, i actually didnt take the trade so not too concerned ! was just sharing the idea as its retail favorite ... LOL but I still wouldn't be a buyer at these levels. I'm waiting for 9-10 level in the next crash
Reply
JimJJ r3anand
@r3anand, put your money where your mouth is bud.
Reply
I know that to begin understanding how to analyze graphs is to listen to people who do it often. I envy your ability to analyze a stock graph; I have a long way to go.
+1 Reply
r3anand BaconWizard
@BaconWizard, thanks man ! But the most important thing I learned over the years is to accept being wrong ! Technical analysis isn't a 100% guarantee
+2 Reply
@r3anand, I totally agree to accept being wrong; as long as we are able receive insight to what went wrong in our analysis.
+2 Reply
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