Technically Spekaing
Price is in the support zone 30-32.50 right now. This will be the 3rd week in a row to close under the 200 WMA. The last weekly close under the average was back in 2011.
A break under the 30 level could see a move toward the 22.50 level, 25% to the downside.
What to do?
Aggressive traders could take a long here, with a tight stop under ~28.
I am going to wait and see these levels hold.
A move to 22.50 would seem like a gift to longs, although what would that say about the future potential of the company? Something to think about.
Price is in the support zone 30-32.50 right now. This will be the 3rd week in a row to close under the 200 WMA. The last weekly close under the average was back in 2011.
A break under the 30 level could see a move toward the 22.50 level, 25% to the downside.
What to do?
Aggressive traders could take a long here, with a tight stop under ~28.
I am going to wait and see these levels hold.
A move to 22.50 would seem like a gift to longs, although what would that say about the future potential of the company? Something to think about.
