Geez. I hope nobody is losing any money because of me. I apologize to everyone that I didn't list $42 as low end support for today. I guess I'm too much of an optimist and just didn't think we'd hit it. Though that clearly was the strong support, and it's defined by the Daily chart, not 5-min or 15 min. Now, with that out of the way...
We held up incredibly well today with a percentage loss below that of all the averages. Volume was solid, clustered at the moves upward with the exception of the morning drop, and the best volume spike came at the close with a rapid climb from 42 3/8 to 42 7/8. 42 7/8 happens to be the near term resistance line formed off the early morning low of 42.5, when it was support, so I'm not surprised we stopped there. Hell, I'll confess I tried to get an order in to sell my margin shares there but the market closed before I could get the %#@$* order off. (Can you tell I'm a peon trading on the Internet?) Just as well, that move up broke us out of the downward move and should ensure that we don't see 42 again. We're on the way up. Maybe big time.
Support tomorrow at 42.175 according to the Daily chart. Resistance at 44.825 and 45, so that might be a tough one to crack. I'll personally be happy with just higher lows and no higher high as we consolidate more for a big move up. I have only a little powder dry, and I'd like one last good shot on a clear breakout.
For those who are NOT trading like madmen, we should hit at least $46 on this move up. That's where the 10-w moving average is, and the stock price seems to want to seek it out near earnings time. We could overshoot into the 50's again. Market willing, of course.
Good luck to all!
PS: Thanks for all the great recent posts. This board has shaped up nicely over the last few weeks.