So do I understand this right?
today's plunge down was triggered by PR 'news' that was proclaimed disappointing....and slam bam, selling attack begins.
and begins right where it should begin, at a key resistance peak (3.45/3.50) and now the technical support step at 3.20 Failed, now 3.10 step failed, and we have a "double bottom" at 3.06 to stare at for a while. (Oops,that didn't last long did it?)
3 dollars now.
and the 3 dollar step waits for its turn again. (hit already)
the real fun would begin IF/when we see the MM's allow or instigate a slam down thru the 3 dollar point to start hitting 2.90/2.80 etc... and make us all nauseous. If we see that happen, I believe Missling needs an email from about 1000 investors screaming . stop this bloody nonsense and support the share price for a moment.
New investors probably started buying in the mid to high 5's. back in may of last year.
seasoned idiots like me who watch charts bought a lot at 4 dollars. Only the die hard hopefuls will tolerate the 2's.
as a mental exercise, I need to determine what the price point is that distinguishes my 'trading shares' from my 'core holding shares' .It has changed because of this giant downwave that went from 6.50 to 3 dollars. weeks and months ago, I was thinking the 'trading shares start at 4 dollars and anything below 4 is "investment core".. Now I'm saying anything above 3 dollars is a (technical) trading share and below 3 is a core holding share. For what this is worth. its looking like this to me in the chart pattern now.
From a wave peak at 3.50, to a plunging target at 3 dollars, 50cents is a drop of about 14.5 %
and now, for what little its worth, the technical resistance overhead will be waiting at the 3.20/3.25/3.30 area as a technical danger zone. and whats another 50 cent plunge from there...the target zone at 2.70/2.80/2.90 area (if 3 dollars fails to hold)
