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Re: fitzwell11 post# 72

Thursday, 03/12/2015 5:02:36 PM

Thursday, March 12, 2015 5:02:36 PM

Post# of 109
Support is low of 4.62 (& 4.53 pre-market actual lowest), and BRZU traded downward all day until market close nearly testing that level. Trading is now at critical juncture around minimal support (not "4.70"), so I don't share your enthusiasm for presumed ultimate bottom here.

Anything can happen here, and in my analysis and experience, it is best to error toward chances likely it drops more to new low yet.
RSI is showing oversold --- I agree, but that is more of a general technical & certainly does not determine where this bottoms.
RSI could have been used for argument of being oversold for over a week already, and since then this has dropped.
Be cautious here and not presume too much it has bottomed yet, whcih is my view here.

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