Replies to post #109948 on Zeev's Turnips Patch-No Politics (ZEEV)

[leptokurtosiss]

telecom,

It has been trading relatively weaker than the overall market in the past 7 sessions.

FWIW, intraday is extremely oversold. It has been trading below its lower b-band in the past 3 sessions. Already broke its March up trend; but has already reached (today) its 50% retracement @13.5+/- today. There's a good probability that a rebound to retest its 10/20dma, which are trading in conjunction to its 38.2 - 50% retracement of the current down trend, @14.70 or so. Since both COMP and SPX printed the short term reversal today, and with AMAT's beta of 2.5, the probability that it may rebounce higher has increased exponentially; IMHO.

Hopefully, I don't cut myself catching the falling knife <GG>

Regards,

Lepto