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Skullcandy, Inc. (SKUL) Message Board

  • onepoint272 onepoint272 Jan 24, 2014 2:22 PM Flag

    A case for $6


    Yesterday, Jan 22nd, the price finally closed under the 20-day SMA after 23 consecutive daily closes above it. Today it is well under it and looks like it won't even touch the 20. The 20 itself still has a positive slope but is flattening and should roll over in the next day or so. The volume will be greater today than the past 7 maybe 9 trading sessions.

    At the 8.02 high the 20 was at 6.60, a difference of about $1.40. We can expect that the price will attain the same difference below the 20. The 20 is now at 7.38 but using 7.40 for easy figuring, the price should therefore reach $6.

    A 78.6% Fib retracement between 5.34 and 8.02 is $5.91.

    The gap will be filled at 6.09, but they like to go to the low of the low gap bar, which is at $5.94.

    No guarantees of course, and I'm sure it won't go straight down as it will pause along the way at $7, $6.87, and $6.36, but there it is.

    This topic is deleted.
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