All right children, let's all look at the 2 year chart and find the all time high on April 13. Does anyone notice how close the present PPS is? Any guesses when we hit that???
Sentiment: Strong Buy
Yep... double top area. And you want folks to buy it before it crosses well above? With a massive developing bearish divergance on the MACD? You are shameless, arn't you. Might not yet be a sell, but certainly not a place to buy.
Real chartist consider the classic double top range to be anywhere within 2% of the prior price ($433.55 to $451.25. We're knocking on that door and shorts are ready to bounce.
Then we will be looking for any dings in Oct 17ths earning. It will need to be a solid beat and raise to maintain. A professional gap open into the doubletop range of the prior high is likely to be sold and sold hard as the gap fills. A move below $416 will fire a high pole warning sell on the P&F and it's been over 3 months since $CMG last touched its MA(50)d ~412, so both are reasonable place to watch as any weakness below the trendlines will also be sold. It should be expected that there will be a large amount of stop loses that have yet to be cleared. From there it will be all about the Fibs and the gaps. The 23.6% of the prior swing at $393.18 is itching for a retest. Such a move breaking the rising support line and below $400 again would also fire the first breakdown sell on the P&F in six months with first real support at the 38.2% around $362.72.
It is not so. This stock is manipulated, way too expensive to give much of warning. I agree with jimcalp88. The sell off will happen quickly and deep. I feel like it may open and go real high and then kill all the believers in "next level" a handle above 600 ? Lets put it this way, we will never know that the reversal is coming.
Want to talk charts? What about the gap at 380 that needs covered? And why have you never been able to discuss any fundamentals? Decreasing growth, shrinking margins, fully valued market and stock already priced at perfection.
JimmyC, just because you post it on yahoo doesn't make it so. 380 gap is meaningless as it represents retracement to old high. Watch the tight channel for the breakout above 442.40. If that is broken 550 no problemo.......
Sentiment: Strong Buy