Symmetry at its finest. We are almost to the cent matching the drop level in 2008.
I will buy a long term call and anticipate a target level at $15.82 given the strong area of resistance there.
There should be some more dropping here (to around $1.20) before the symmetry is exact.
"Here at Strickland, we sell propane and propane accessories" Hank Hill
At 12 month, 6 month, 3 month areas of support
There may be some slight pull back before proceeding long.
Not sure what this pattern is, If anyone can help clarify or help me adjust it, that would be appreciated.
FCG is reaching a point of entry based on hitting key 2009 level of support. The level was touched at the beginning of 2015. However, looking at the monthly trend line, I see a deeper penetration to the $9 level before entry makes sense. Timing of this penetration may not occur until Oct or Nov 2015.
CBK has shown similar trends in the past
Assuming there will be a bit more bearish action before retracing from the Nov 2012 support level (or at the -0.236 Fib)
Tgt #1 is 0.382 Fib
Tgt #2 is 0.5 Fib (however, doesn't feel like an easy glide to this level will occur. )