within 5 trading days, GNK will take a dip below the much-acclaimed $23 resistance level.
how long will it dip below that? can't say.
but i'm quite certain we'll have a dip here in the next 3-5 business days.
mark the post and go back and read my previous posts in the past few weeks--i've yet to be wrong--perhaps this time?
you are a real piece of work, daroon. what part of "breakdown" do you not get. breakdown=lower breakout=higher. pretty simple stuff...like i said stock is going lower. glad i traded out of this yesterday and traded into Navios (NM), which had a good day. glty
Ha! My point is simply that a "double bottom" is formed ~after~ a lower-low fails to materialize, or a "double top" after the stock fails to make a higher-high. It's funny to hear you referring to a lower-low, which is a typical and frequent chart formation, as a double-bottom braekdown.
That'd be like saying I woke up this morning as a "failed death-in-his-sleep victim."
"A "double bottom breakdown?" That's just a lower-low." LMAO!! Yep, thats what it means, daroon. The trend\chart is speaking to you, is it? Im out for now. I was in, but as is almost always the case, the charts rarely lie.
entry point was this morning, and if it goes back down there again in the next few days, that's a good starting point to begin accumulating---leave some powder dry, don't buy all at once either.
I'll answer this one:
No one knows (no matter how "right" they were on a previous call) where this stock will be at some point in the future, and what it will do in the meantime.
If you are a short term trader, look for a reversal in the charts -- one that shows higher highs and higher lows. This stock is notorious for 5, 10, sometimes 20 day trends of consistant higher highs and higher lows (or conversely, lower lows and lower highs). When you see that trend appear, trade it! Trade it until that trend is broken.
Right now, on the longer term chart (3-6 months), the trend is most-definately up! On the very short term chart (5 days), the trend is down. On the medium term chart (20 days), the trend is sideways.
Good luck to all.