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Universal Display Corp. Message Board

  • patches_ohoulihan patches_ohoulihan Apr 1, 2013 10:52 AM Flag

    Sitting right on support.

    If it breaks through this current support level that could be a problem.

    No bottom in sight after that.

    I like PANL long term but I'll have to trim my position; carrying too much to ride it sub $25.

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    • The only support I see is at 22-23. As I have been saying, the intermediate trend is down. Both the weekly and daily RSI are headed down as well. The market looks toppy as well.

      Last 5 high level sell-offs over last 2+ years have reversed off the lower BB on the weekly chart. The lower BB on the weekly is currently at the low 20s but most assuredly it would be lower by the time price approaches it. Thus, I see a relatively quick trip to low 20s. Most of this fall is likely to occur in next 4 weeks. Watch for weekly RSI to approach 30 while price is touching or approaching the lower BB on its weekly chart. Daily RSI will have reached sub-30 and even possibly already be in a bullish divergent position when the price low is reached.

      Sentiment: Strong Sell

    • Yeah, very smart!
      Buy high sell low!

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