How does the volume look on this down move today ,so far...
4.27 is a key target area. similar zone to 4.30. 4.25 same thing. 4.20. It becomes a step lower at 4.14/4.10 target. My stink bids are at 4.22/4.20 for one bid, and the rest are at the 4.14-4.10 steps. even one at 4 dollars. I haven't felt the need to change them in the past 3 or 4 days.
I don't feel any alarming concern that it dropped below 4.30 today, I think its because when the peak stopped at 5.14, and began the downwave, it was about a week ago ,as it fell below the 4.55 support...that was the sign to me that the downwave has begun with 5.14 as a Finished rally. the targets at 5.30-5.55 area, will become part of the next rally (if we get one), and it became more well defined, the downwave now, having fallen to the 4.35 and now lower, shows me that the Elliott wave pattern, and the Fibonacci retrace measurements can be more certain now, starting from the 5.14 as a confirmed rally top. it makes it easier to 'trust' one pattern that's happening now, instead of seeing two patterns weaving alongside each other, if you know what I'm describing. I wrote about it in past posts. its now just the one pattern to look at in my view. ,so in that sense, easier to examine now. .A rally from 3.33 to 5.14 to be measured. a downwave now from 5.14 to whatever targets are waiting on the technical chart. and because this pattern shows the Fib target zone at 4.20-4.10-4.00 area, I dropped my stink bids down to those targets the other day.
Last week, when the patterns were still a mixture of two tracks, the higher track,had support targets at 4.55 area, so I did buy a little there, and I'll sell it as soon as it hits 4.60.
Now, when the downwave does stop and the next rally wave begins, I wonder if it will be a decent rally that breaks thru the 200ma or whether it gets hammered down again at 5 dollars. I have a lot of shares I need to sell at 5.65,but I really don't want to have to sell any at 5 dollars. I suppose it will climb back to test 5 dollars but will need real news to push thru the 200ma and target 5.75 again. bullish pattern doesn't really develop until it breaks above the 200ma and then pulls back down to Hold the 200ma as support. we need to see a rally stretch to 5.50-5.75 for that bullish pattern to develop. in my view.
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