1 year chart shows 4th buy signal in succession again.
Last time that happened the stock moved between up 70%- 140% in that quarter. Expect a repeat performance, and depending on developments, maybe a more respectable base.
The fibonacci's are very solid, which gives me a great confidence factor.
You can still buy, or you can whine about the company getting their 401k's in order with options restructure.
I already made my choice.
Dorian, would you please elaborate on the fib #'s? I wonder if you're talking about the retracement of the move from the mid-May low to the mid-September high which is almost a fib100% number. Or do you see some other relationship in the year chart and Leo's numbers?
I used 12/29/11 @.51 to 1/23/12 @1.16 for my first look. This repeated, as you saw 5/17 @.47 to 9/18 @1.14. So you could use either, but the pattern match is astounding. Relative strength signals (RSI) (14,2) on a daily repeated as well, so if you are a pattern matching type, this is to stark to ignore. I tend not to get fixated on RSI except to say I always play from the 25% level (oversold) to the 75% (overbought) as entry/ exit points. But only when all of these match.
The hardest part of using the Fib is to select a relevant time frame. The human brain is very good at seeing patterns. Making sense of them is a different story.
P.S. Another point is recognizing that Fibs work great - until they don't. I used this to get a pretty close call on the bottom of OPK @$4.25 last year. Unfortunately, I discounted the break above the trend line, and would have missed out on the good times you and Ice are having over there!
So many stocks, so little time.
By the way, who is Leo?