appears to be hell bent to print 19.34 which would be a double bottom and likely technical bounce possible reversal. it's a sweet price now to enter but will likely get even sweeter.
19.50 down to 19.30 level showing next support. Of course the market that helped drive it down today will have it's say. a close above 20.10 Tues. would be bullish but i'm bullish anyway looking to add.
Next strong support is 19.34 area. best case scenario is a dip down there Tuesday and reversal. If not will report the next support level. OVER DONE! it will re-coup after the EO's selling.
Also a nice pierce below the Weekly Lower Bollinger Band (TA stuff) more often than not will cause a reversal (to the upside in this case)
Closed below the 100 WEEK moving average for the 1st time since 2013 but.... both daily and monthly TA indicators are screaming BUY! I just may add to a small position Tuesday. GL
May have been a good move as it bounced off support 2 off recent pivot which was the low of the day to the penny. That is a bullish indicator especially if EO's have stopped selling. GL
20.66 is a key level, loses it look for more selling into the 19's to test Dec. low possibly. So no bounce after pierce of 20.66 decision time me thinks.
Losing subscriptions, 3 or 4 law firms have class actions against them, hinting at cheating investors by cooking books. What more do you need to drive a stock into the toilet?
21.65 was a major supporting trend line as well as 50% Fib. retrace. A close below this level is bearish. 21.47 is 200 day moving average, a close below is even more bearish and points to more downside. strictly chart speaking. don't shoot the messenger.
You don't lose until you sell so depends on how healthy the rest of your account is but... i would hold down to 20 if it takes that but it will likely head back to the 30's after playing around in the 22's if not 21's.
This stock has helped beef up my portfolio but i've sold in resistance and bot support over 6 weeks or so until recently. The shorts have had the advantage for awhile but it will change. Odds are it will be green the first hour Tuesday morning. Not to say it will close green.
"the experts are saying".... Well we know that 80% of the experts lost money in 2014 now don't we? Go ahead and follow them if you don't mind the odds being stacked against you.
These 3x leveraged etn's are designed to go to Zero which is why so many have had REVERSE SPLITS. Could well happen here. The 2x etn's have a bit less slippage/decay over time but thinly traded. BOIL = long or KOLD = short. both are 2x UNG