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Skullcandy, Inc. Message Board

  • onepoint272 onepoint272 Sep 14, 2012 3:25 PM Flag

    Watch out....SOW

    Watch out! Looks like a Sign of Weakness forming in the right hand side of this afternoon's trading range......high volume down in the TR. That would make this TR a distribution.

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    • Where do you think it goes from here? Is this the best rebound we can hope for? Or can it go higher before it pulls back?

      • 1 Reply to babb292001
      • I think it can go higher.

        On a 30 minute chart the top line of the downtrend channel, for the open Monday is at about $13.35.

        The 38.2% retracement between $16 and $11.84 is $13.43.

        The midpoint of the high-volume 12:30 CT downdraft bar is 13.20, which we got into today.

        On the daily there is a significant supply line (resistance) at $13.50.

        I would have to guess a 13.35 to 13.50 high for Monday.

        Back on the 30 minute chart there is a lot of work to be done between 11.84 and 12.51.

        But I believe they will close it above the 12.50 strike for op-ex fryday. There's a lot of put value at $15 too, but they'd really have to throw the fuel at it to close it up there....that would be crazzzzzy....But with the short interest, can't say its impossible.

6.35+0.0100(+0.16%)Oct 3 4:00 PMEDT