It looks to me that this pullback will have very strong support at $14 level maybe slight dip under it...That might be a good place for reentry after the breakout that has occurred.
Yup...oops..went a bit lower than I expected but I thought it would be support at $14 or a brief slight brief dip below it...We'll have to wait and see next week...Sometimes you dip below support quite a bit and it slingshots back above it pretty quickly...Not always a guarantee but the probabilities are that it will find buying power pretty soon...If not then it could take some time to work it off
oops!?
Unless the open interest in May options has changed drastically, then $14 would cost the thieving manipulators $750k more in options exercised than $13...somehow, I don't think $14 will present that much resistance.
$13.50 target...happens to be very close to the 61.8% retracement from the May and August lows last year.
sorry to be the bearer of bad news...may be a short bounce up over the next few days...but then next week...kaboom.
good luck all longs (including me!)
sjm
And there it is! 13.60...okay I said 13.50, but it was over $15 at the time!
This is a BAD SIGN.
It's still 10 days until May OE and the options haven't changed much. Meaning a a period sub-$13 is now on the cards.
Before then we might see a bounce to 14.60-14.70...but it'll just be a bounce.
MAY OPTIONS ARE SUGGESTING MORE PAIN TO COME!
Hope I'm wrong...I'm a committed long with a $28 target!
Good luck all longs...don't be fooled by this manipulation and surrender your shares. And be careful trying to call this the bottom.
just my cynical opinions, dyor
sjm