Note: I have no position here and doubt I will take one
Did someone call a doctor?
Sorry - not so sure a doctor is going to fix the murder that has happened to this stock..
Alright - jokes aside - where is this going? Well lets look at this. We have a huge dip buy range for bottom 54- 109??!?!?!? What the heck...
Alright well the Primary WXY has a 61.8 extension at the 109 range. Ok. That isnt too far away. Now we have a nested intermediate WXY within the primary and the 100 extension of that is also perfectly 109. (see how both at some exact spot). ... Cool we have confluence. So now what?
Well we need to get to that area first and then we want to see divergence on the indicators. RSI, MACD, and %r are all still bearish w/ no divergence, so no trade here. We wait until we see those signals, then we wait to see an uptrend start and buy a pullback of that uptrend.
Knife catching this isn't smart when the low could be in the 50's.... And that is only the 100 extension... Technically you can go all the way to 161.8 for a Y, but here we cant because that would put this stock negative...
Hope this helps
Did someone call a doctor?
Sorry - not so sure a doctor is going to fix the murder that has happened to this stock..
Alright - jokes aside - where is this going? Well lets look at this. We have a huge dip buy range for bottom 54- 109??!?!?!? What the heck...
Alright well the Primary WXY has a 61.8 extension at the 109 range. Ok. That isnt too far away. Now we have a nested intermediate WXY within the primary and the 100 extension of that is also perfectly 109. (see how both at some exact spot). ... Cool we have confluence. So now what?
Well we need to get to that area first and then we want to see divergence on the indicators. RSI, MACD, and %r are all still bearish w/ no divergence, so no trade here. We wait until we see those signals, then we wait to see an uptrend start and buy a pullback of that uptrend.
Knife catching this isn't smart when the low could be in the 50's.... And that is only the 100 extension... Technically you can go all the way to 161.8 for a Y, but here we cant because that would put this stock negative...
Hope this helps