Options Wonderland

[dalcindo]

DRYS: Evil, evil, evil numbers!

Okay, call me crazy, but here is a contrarian opinion: DRYZ is coming back up.

What? you say.

For one, consider the after-hour trades so far (6:57 Central) - Trading just a slight higher, but in the increase, nonetheless (okay, weak, but read on):

Last: $ 6.81 After Hours
High: $ 6.9016
After Hours
Volume: 472,601 After Hours
Low: $ 6.75

For second, a review of the 60-minute chart indicates that although the price plummeted recently from HIGH of 11.48 just a few trading sessions ago, down to 6.79 CLOSE today, the low reached today (6.66, the "evil number I was jokingly referring to above - Just to catch your attention, really), also corresponds to the significant Fib support of 61.8%.

Is that all?

Nope.

A speculative price channel in the same 60-minute chart gets validates that several parallels. But most importantly, price low seems to reproduce a similar pre-rally pattern as the one from early APR 09.

Added to these significant events are pincher formation, steep positive divergence ... et voila.

Please, somebody calls me crazy.



D.