I think 21.50 is a safe bottom and starting point for discussion. We will be able to see if a double bottom with a gap up is important TA to notice in the future. 22.45 next 162 fib, thinking on selling my 23.00 calls there and buying the 22s on the retrace, perhaps 21.97 or better. 127.2 off of 22.45 = 22.70 , likely high today, Gann chart says 22.63
Hi Sandybeach Dave , I'm considering we are still in Wave I of 3 and 21.37 was iv of I and we go back to 27.00 to complete the I of Wave 3. The low of 19.23 was the start of the wave, i = 21.32 on 12/10 , ii = 19.50 on 12/23 , Then we have an extended wave iii from 19.50 all the way to 27.14 on 3/14. the wave iv ran down to 21.37 , since then price has been working on wave v of I of 3. I expect price will near 27.00 about June 26th. The wave iv should not enter wave i below 21.32 , so I think the low is in. I've tried to follow kaz's triangle idea and I can't draw a bottom trend line on any of three programs below about 21.15, so we can only give it some time to play out and see what happens. Kaz seems to be the best trader on the site , so his ideas need our attention. I've not been doing well on some of the swing trades, I'm going to try a longer holding period, likely June options held until about June 4th when I expect price to be near 25.00.
22.23 was 127.2 % X the high Friday 22.06, Friday W i, the 22.23 W iii , the iv retrace shouldn't go below 22.06 - - will prove the concept one way or the other, If 22.23 is iii , W v = 22.68 or since this is opex week maybe still the 22.41 - - - 22.06 seems to have held. HWB from 22.68 = 22.09, the current support level is 22.12 if it holds