How low can such a great stock go? Fairly obviously it can still fall back as far as $123 over the next couple of months and still be in a long tem uptrend. It could also travel sideways and keep picking up support from yesterday's lows at 138.8, which would over time eventually clear those overhanging lines of defense/resistance which currently sit from 140.80, 140.90 and 141.00.
But that's asking a lot.
The shorter term trend/support line from yesterday is alreday becoming resistance and the stock remains vulnerable whilst unable to get back above it, now at 140.00.
Best to break this thing down into smaller trades rather than get too gung ho.
It's weak. For now best to sell into rallies rather than buy dips. Each support line shown on chart when broken should trigger next spurt of weakness in this stock - and all markets until they fix things.
But that's asking a lot.
The shorter term trend/support line from yesterday is alreday becoming resistance and the stock remains vulnerable whilst unable to get back above it, now at 140.00.
Best to break this thing down into smaller trades rather than get too gung ho.
It's weak. For now best to sell into rallies rather than buy dips. Each support line shown on chart when broken should trigger next spurt of weakness in this stock - and all markets until they fix things.
