Struggling a bit but I would be a buyer at 89.65. That it means, if I see an opportunity to get in I would be short on TWX.
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Cream Live Trading, Best Regards!
There is always much to learn.
Something I have learned very important from Shane was, to observe what's going on, how price behave and what it does where. Lot's of questions to ask.
I drew the two narrow resistance lines about 1 month ago, just to observe once more, how price will react on them.
Isn't it amazing?
To catch such zones, one may ask the chart:
Time Warner Buys 10% Stake in Hulu for $583 Million
Times warner's last try to survive in the market. But it will fail too. How? Look at the cart. The move from the 2016 Feb low from $50s range is about to come an end. It may go higher but not too much as the technical are diverging and shows weakness. It also failed to take out the recent previous high $79...
After a head fake in Jul'15 when it popped 90 the collapse started. Breaking trend line support and getting under 68 we retraced exactly to the 50% fib ($78) and then tanked to 161.8% extension ($55).
The most recent rally so far hasn't managed to get above 78... yet. If I were a gambling man i'm tipping we don't on this run.
I'll be getting short risking Nov'15...