sad to say but this stock cant go straight up! i wish it did though. just a test of the bottom trendline here... nothing to be scared of in my opinion. you should only be concerned once 32 support begins to break. which is very unlikely in my opinion... look for some upside here soon. im still holding full size in shares
I share your views on this. I think we will see a low today, before bouncing off the support to new highs.
Bearypatch
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you sure we don't have a head and shoulders here?
Montecito101
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@tradinghandhall, under normal circumstances I would say for sure... but. Two things make me bullish here.
1. TONS of serious "smart", institutional money has flowed into this stock at this support level recently
2. event risk to the upside, in the form of price announcement on new offering.
Of course I'm a bit nervous here but that's the point. Bigger money is going do their best to shake loose shares here. I would be way more nervous shorting this stock here. I just don't see the risk of shorting here out weighing the small reward. Do some some homework tonight on who's actually long this stock. There are some big boys with big positions
I think @Vibranium_Capital is right here but let's see how we look at open tomorrow. I'm sure we'll see a slight overshoot to the downside in hopes that the general public pukes some of the shares up.
kflynn2018
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@tradinghandhall the problem with the head and shoulders here is that the price target would be zero since the head minus the neckline is $34 and that’s the stock price today.
HHSPN
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Good time to buy? It looks like it finished 12345, now at ABC of an Elliot, next wave should go above 5 hopefully.
ianmaclean
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really it depends on what the broader market is doing, I bet.