StockBoardAsset

Monthly BJK at POC/Centerline channel

AMEX:BJK   VANECK VECTORS GAMING ETF
7 0 0
BJK is currently levitating at a major POC             32.5 region. The centerline of the ascending channel is also another major support in the same area as the POC             . An intermediate down trend in a linear channel started construction in 3-3-14 after price rejected 2x top evening star formation. Price is on the upper 1/2 of the value area, but the LVNs below are a concerning factor extending into the low 20s. The next POC             is in the 23-25 region which would mean the long term traders will add an extension to selling. Critical support here. Watching for short term intermediate trends in numerous large market capitalized casino stocks . If a fade occurs the industry will resume the long timeframe sellers. That would mean a similar wave collapse to 2008, but more controlled in fashion this time around.
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