Sunday, November 17, 2013 5:09:50 PM
YIPI updated Fibonacci Chart -- bottom hit imo
Granted, it could still drop to the 38.2% extension line. If you follow the 61.8% fan line, you can see it did just that in late September. I really hope it does actually. Selfish, but I'd love those cheapie dip under fan shares.
The reason I don't think it will actually do that is the fact that when it bounced off the 61.8% fan line, it solidly closed over the 50% extension line. So there are two, very close support levels that are going to be crossing, and holding it above this level imo. Going to be very hard to dip, especially with the buzz about catalysts coming out this week.
We shall see. This is a stock where the chart matters much less compared to the actually company behind it. It's fun and interesting to try and navigate the price action, but in the end, I am investing in this company. The chart is meaningless.
Cheers to a great week everyone!
Granted, it could still drop to the 38.2% extension line. If you follow the 61.8% fan line, you can see it did just that in late September. I really hope it does actually. Selfish, but I'd love those cheapie dip under fan shares.
The reason I don't think it will actually do that is the fact that when it bounced off the 61.8% fan line, it solidly closed over the 50% extension line. So there are two, very close support levels that are going to be crossing, and holding it above this level imo. Going to be very hard to dip, especially with the buzz about catalysts coming out this week.
We shall see. This is a stock where the chart matters much less compared to the actually company behind it. It's fun and interesting to try and navigate the price action, but in the end, I am investing in this company. The chart is meaningless.
Cheers to a great week everyone!
I can only provide my own speculation and theories. I am not qualified to offer any
investment advice. Everything I post is my own opinion. DO YOUR OWN DD!!!!!!!
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