Here comes strong resistance in the $2.50-$2.75 range. If it can break
out to the upside, 2.75 becomes support and we get one more upside run.
If resistance turns the trend around I'll be out when the 7 day bear
crosses the 15 for more than a few days, or other tragic sign of
weakness.
-Luke
Although I've never seen the equivelent of a bullish advance block,
these last three days resemble one. My stop is still $1.80 but I think
it's more likely to find support before then and eventually go back to
test the $2.50 region again. I like getting out on second bounces, and
I like giving my plays enough room to trace out a range, for a couple
of reasons, but that range should not violate my technical
entry/support range.
-Luke
Awaken21 wrote:
> Like that bounce off the $2.50 region? Me either, but all things
> considered it's not time to bail out yet. Strong support today at the
> 15 day moving average and although the trend has slowed down in this
> area, which was expected, it has not yet reversed...yet.
>
> If tomorrow's trading closes anywhere over 2.35, that will be a short
> term reversal and a reason to stay in for at least a few more days.
>
> Hehehehe this is the fun part. :-)
>
> -Luke
>
>
> Awaken21 wrote:
> > Here comes strong resistance in the $2.50-$2.75 range. If it can break
> > out to the upside, 2.75 becomes support and we get one more upside run.
> > If resistance turns the trend around I'll be out when the 7 day bear
> > crosses the 15 for more than a few days, or other tragic sign of
> > weakness.
> >
> > -Luke
Nice bounce late in the week off of $1.91 with strong support at $2.
Now it will probably head back to the $2.50 to try and break the
resistance there. If it doesn't break through this time, I'll lock
profits and perhaps re-enter at the point it does break this resistance
line.
-Luke
Awaken21 wrote:
> Although I've never seen the equivelent of a bullish advance block,
> these last three days resemble one. My stop is still $1.80 but I think
> it's more likely to find support before then and eventually go back to
> test the $2.50 region again. I like getting out on second bounces, and
> I like giving my plays enough room to trace out a range, for a couple
> of reasons, but that range should not violate my technical
> entry/support range.
>
> -Luke
>
>
>
> Awaken21 wrote:
> > Like that bounce off the $2.50 region? Me either, but all things
> > considered it's not time to bail out yet. Strong support today at the
> > 15 day moving average and although the trend has slowed down in this
> > area, which was expected, it has not yet reversed...yet.
> >
> > If tomorrow's trading closes anywhere over 2.35, that will be a short
> > term reversal and a reason to stay in for at least a few more days.
> >
> > Hehehehe this is the fun part. :-)
> >
> > -Luke
> >
> >
> > Awaken21 wrote:
> > > Here comes strong resistance in the $2.50-$2.75 range. If it can break
> > > out to the upside, 2.75 becomes support and we get one more upside run.
> > > If resistance turns the trend around I'll be out when the 7 day bear
> > > crosses the 15 for more than a few days, or other tragic sign of
> > > weakness.
> > >
> > > -Luke