Case 1: Some of the economic Indicators might be weak and the market might have a much lower open. Not to mention that we failed to hold above 200 ma on the S&P and VIX closed over the 200 ma (Triple bottom)
If this happens YRC might trade down or at least people will take profits and shorts will try to drive it down. It might find some support @ 0.31 or 0.28 and if both of these levels fail then at 0.25 (50 ma)
Sell points: < 0.31 or < 0.28
Buy Point: If 0.31 holds or it 0.28 holds (scale in)
0.23-0.25 (75% in)
Case 2: Market opens lower, but YRC get a pump from some things said on CNBC and opens higher (Around 0.39-0.4), Tests the 0.43 resistance and if it breaks... will have s light struggle at 0.45 and then prob. head to 0.48-0.49 (Big resistance here) If it can get past this level then it has to battle with the 150 ma at 0.51.
Sell Point: If it fails at 0.43 or 0.49 0r 0.51 0r even 0.57
Buy Point: Open or PM if higher open (<0.39) or if it breaks 0.43
Case 3: It make minor moves all day (Hot 0.4 and fail at the 100 ma), but remains flat to slightly down at the end of the day. It might just follow the same pattern of consolidation as it did at the 0.23 level.
Case 4: CNBC says something extremely bullish and the stock might make a bigger move at the open and shorts can get squeezed. This might be the least probable outcome.
key levels 0.55-0.57 and then 0.63 and then 0.75-.8
Case 3: That is the one that played out.
Not much movement and closed slightly lower from the open and failed to close above 100 ma (0.4)
See reasonable analysis does come true (Mindless pumpers and relentless bashers might want to take notes)
The broader market is sure not helping!
YRC fighting and staying green, but selling has increased a little more than in past few days. A positive close would be a big victory!
So far Case 3 is playing out!!!
Watch out if the market recovers!!!
Up kind of late there Picker.bottom? You might want to get some rest cause it looks like tomorrow is going to be an exhilarating day. There is likely to be sparks flying from that keyboard of yours after the market opens.