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The ExOne Company Message Board

  • mao_ze_dong_said mao_ze_dong_said Nov 3, 2013 8:59 AM Flag

    The chart pattern of xone

    On the daily chart:
    xone began its correction from the double top formation: 7/9 and 8/13 of the two loosely defined tops. It attempted to break this formation on 8/29 to form the third top, and failed. The three tops, the ensuing breakdown can also be viewed as a ascending triangle breakdown, which induced the serious correction from 80s to high 30s, stopping very close to the 62% Fibonacci level.

    On the weekly chart:
    No classical bearish pattern has ever formed. However, the correction volume is a little too high.

    Wave pattern:
    It has completed the initial wave (1,1, up), corrective wave (1,2, down), correction of the corrective wave (1,2,2, up). Note that (1,2, down)=(1,2,1, down).

    Key question: Is it on the primary 3rd wave (1, 3, up) or on the corrective third wave (1,2,3, down)?

    Educated guess: It is on (1, 3, up) ! Not on (1,2,3, down).

    Reason of guess:
    (1) If (1,2,3, down) holds, (1,1, up) would be invalidated. Fundamentals do not support this.
    (2) The waiting period for (1,2,3, down) to occurs has been too long, likely passed.
    (3) Fibonacci retrace level is consistent with (1,2, down) bottom.
    (4) Recent contracting volume
    (5) Cup with handle has formed with very light volume on the handle part.
    (6) peer performance: ddd, ssys, vjet etc...

    If you do not understand what I am saying, it would mean that you do not understand the basics of technical analysis. It also means that you are not very intelligent.

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