Thanks Arnie...I wouldnt compare this to any other Q chart. I would highly avoid doing that. This is no Lehmans, Wamu or CEM. Not yet anyways.
If you look at the one year chart of Mesa from the beginning of 2009 until now, you will see resistance and support areas at 15 and 20 where the stock moved in that area for some time. This is a key indicator that when we get there, it will be act as a resistance and if we break, act as a support. Just pull up that chart and stare at it for about 2-3 minutes and look at the patterns. Then draw your lines. Ignore the bollies and other indicators. Just draw your lines of support/resistance, etc.
Its easy to see 15 and 20 are areas of importance. The irony is we have gaps in both areas.
Again, not a matter of IF but a matter of WHEN.
GL Arnold.
