XM SATELLITE (XMSR)

[livermore4ever]

XMSR, Waiting for the Technical Signal...

Hello! Before you read this, you should take a look at my XMSR Technical Chart, in order to understand my Analysis and key values:

http://globalspeculators.com/trading_futures/index.php?topic=15.0

XMSR is a very technical stock, in the last few months several patterns worked perfect creating great trading opportunities…

After a well succeeded H&S pattern in March/April, XMSR hit the downside targets on May, on a major big sell off…
Since then, it started to create an ascending support already with 4 contacts (positive reactions), the last one was yesterday, making today’s session upside reaction…
On the upside, we can easily see the descending resistance line, already with 3 contacts, and making a fourth one on today’s highs…

It’s a bit early to talk about it… but this is a symmetric triangle, a pattern that can provide us a buy or selling signal, depending on what side will breakout…
Right now, the main key values are:
$26,80 (up reference)
$24,75 (down reference)
This values would trigger the next big move on XMSR…. (attention, because this values change every day, due to the leaning trend lines)

The projections are the $31 level on a potential upside breakout of the pattern, and the $20,50 level for a potential downside breakout of the pattern.

So, I recommend a lot of attention on XMSR for the next sessions, as the pattern is getting stretched….
I’m liquid and waiting a signal for my next move on XMSR…

Any opinions on this Analysis ?

Thanks !

Jesse Livermore