LABS- Neutral bearish here. After a nice run up. I significant level has been broken and she has come. I see several levels of strong support below but there are also several gaps below if you believe in gap fills. It also looks to be forming a possible Head and Shoulder pattern but needs to range the right shoulder to confirm. MACD also has lots of room to the downside if it wants to based on a historic bottom level. Overall. I think that it is possible that money moves into cheaper up and coming plays. Only time will tell as the stock market has a mind of its own and this thing could rebound off of any support level and go blue sky again. However, at this present time im undecided, on the sidelines and neutral bearish for now!
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Shaping up
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Beautiful bounce off of a major level
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Still doing its thing just as I kind of imagined.
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Still trading sideways
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Sorry, i forgot to update this. I have updates on twitter. I made an entry after the double bottom june 25th and was stopped out for a nice gain on July 8th.
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Shutting this beautful chart down now that it has moved to the TSX
do you have a time frame for it?, I agree on this I already put long for 6.20 with risk at 5.20, did you look a bit at the timeframe?
dafster17
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@ABG1968, Unfortunatly, I am not big on playing/predicting or calling timeframes to be straight up honest. I monitor the levels and what is happening at those levels. I know that is not what your looking for but its the best I have because i dont want to be like "Yeah, this this and that" when I truly dont know.
Really just try and to provide observations that I feel are somewhat accurate rather than guesses!
ABG1968
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@dafster17, No one has a magic mirror, the way I did look at the price, support, etc was based on DeMark lines, etc. I came with support after the left shoulder to about $3.75. I can't put a time frame on it but it is June, I do believe will go all the way to the end of July with it ( again is not carved in stone). Take care
look make sense yet a bull triangle is forming there on a Day timeframe i mean, i dont know what timeframe you used
dafster17
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@ABG1968, The timeframe i used is longer term and meant for a long term outlook. As I mentioned. This can do whatever it wants. Even with a bull flag, could have a nice pop for a couple dimes and drop again. This is just a longer outlook of something that could potentially play out but not necessarily
ABG1968
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@dafster17, I agree, it is very volatile and the volume is absent, i believe you are absolutely correct. Cheers
Barkworth
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Me too. I was looking into them just 1 hour ago, as I was tempted when I saw the upper bull gap closed, but I saw the same as you do. Maybe some other time.
dafster17
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@Barkworth, It has had its nice run and made a lot of money for a lot of people. On the sidelines for now waiting for some more information.
Barkworth
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@dafster17, Indeed. At these levels, there certainly are better plays right now.