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Skullcandy, Inc. (SKUL) Message Board

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  • krug82 krug82 Dec 13, 2012 5:13 PM Flag

    303,720 share print at $ 8.34

    OP, what's your take of the recent movement? Bullish/Bearish or still building cause?

    Sentiment: Buy

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    • Closed at 8.35 on Thursday; a normal 61.8% retracement between Monday's low of 8.07 and Thursday morning high of 8.75. Price was supported by the two back to back 300k block trades (8.34 to 8.37) on Tuesday. Also, the weekly pivot is 8.35 and the daily S2 level was 8.34.

      Tuesday's daily stick between 8.18 and 8.54 had 1.2M shares and was a buying bar. Today it came back down into that stick with 492k; not even close. I would think it would need to take out 8.18 on more than 1.2M shares to be bearish.

      Friday's daily S1 is at 8.18, the pivot is at 8.47, and the R1 is at 8.63.
      The weekly S1 is at 7.88, the weekly pivot at 8.35, and the weekly R1 at 8.65.

      The index futures contracts rolled over distorting volatility. The NYSE did not back off with volume which is a good sign. The SPX completed more than a 61.8% retracement and closed under that level. The NDX is weaker, completing a 50% and backed off with volume. NDX is dominated by AAPL which is nearly 20% of the index. The indexes need to hold the B point, SPX 1343, NDX 2494, on lower volume to remain bullish. Or you could say it all boils down to AAPL holding 505.75. But AAPL looks like its building cause for lower prices.....need to watch AAPL, imo.

    • Although I appreciate onepoint's analysis and him sharing it, does it really matter? Has he ever given you a prediction? He is like Nostradomus. Nostradomus predicted floods, death, war, famine. These are all general predictions so when war, famine, death, or floods break out like they do multiple times each year across the globe someone can point to it and say, see he was right.

      In the same way onepoint tells you the support and resistance levels and that the stock is building cause. Can he tell you if it is positive or negative cause? Can he tell you which direction it is going? No. But the next day's analysis will say, see R1 held, or R1 broke but R2 held. It is easy to point back and say, see this explains the price action. But if can't predict it is it really of any use?

 
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