FCEL 4th-wave FAILS; Rejected: Retracing, Bottom Out -> DUMP it.
FCEL had the makings of a nice long - it even flashed the potential of going +3.1 / share.
It has lost all momentum in this latest correction wave with a virtual complete retrace of the third correction wave. The warning was that if this hit 2.1/s it would be in dump territory and it's pretty much there now. As to whether to hope for and wait on a slight bounce-back to the 2.4 range? I'd like to hope that's smart. That said, if it pushes close to the true trough of 2.10 - A loss will be taken that point and the position exited. This isn't necessarily hard-line advice, but it is certainly the red flag feared that signals a loss of faith in any sort of play on $FCEL holdings.
--Conclusion: Win some, lose some: This is NOW A LOSS.
--The average cost, for whatever it matters was 2.71. Thus, we're watching our chips leave at about a 60 cent per share drop. C'est la vie.
Best of luck to everybody! Happy trading?!
"Mama said there'd be days like this, there'd be days like this, mama said..."
-BDR
Post Note: See also the *failed* IDEA that this would NOT retrace the third - b/c reveling in misery is healthy. Sure.
It has lost all momentum in this latest correction wave with a virtual complete retrace of the third correction wave. The warning was that if this hit 2.1/s it would be in dump territory and it's pretty much there now. As to whether to hope for and wait on a slight bounce-back to the 2.4 range? I'd like to hope that's smart. That said, if it pushes close to the true trough of 2.10 - A loss will be taken that point and the position exited. This isn't necessarily hard-line advice, but it is certainly the red flag feared that signals a loss of faith in any sort of play on $FCEL holdings.
--Conclusion: Win some, lose some: This is NOW A LOSS.
--The average cost, for whatever it matters was 2.71. Thus, we're watching our chips leave at about a 60 cent per share drop. C'est la vie.
Best of luck to everybody! Happy trading?!
"Mama said there'd be days like this, there'd be days like this, mama said..."
-BDR
Post Note: See also the *failed* IDEA that this would NOT retrace the third - b/c reveling in misery is healthy. Sure.
Comment:
Something literally no one cares about: I kept 1 share just for amusement to watch it carefully plummet and fully crap out its equity. FUN TIMES.
