Price is at the 61.8 fib retrace level; I think I'm seeing a double bottom here; hopefully we see a strong reversal here.
Since May, this stock has had nothing but weaker and weaker bounces off the high 40's area. With the market weakening, this should have plenty of downside if the support finally breaks. With so many touches of the support in 4 months, that level should be expected to be weak.
Compression pattern seen here. We shall see in the next few weeks if it plays up or down.
- MACD bottomed out. - Fisher Indicator bottomed out. - Price seems to have found support at resistance of the previous breakout. - Price was highly speculative on takeover rumors, but has seemed to settle. - Nice profit/loss ratio with a tight stop. - Use SMA(100) as a breakout signal
$DDD is one of the momo stocks that got hammered in the recent sell off. It looks to me like it has bottomed. It made a triangle and broke out of that, and is now testing the scene of the breakout from that triangle. I am long here, looking for targets of 67.50, 72.50 and 85 as the runner.