Well the good news today we somehow managed to keep it an inside day and it is still basically sitting on the 50% fib line.
1. We either gap down on the opening tomorrow taking out today's inside low and probably Tuesday's low and then come roaring back up and voila...we have found our bottom!
2. More likely however we simply just gap down and keep going. To answer your question the next support is at 1.08 which would fill a gap left on 4/6/20. Yep...i said $1.08.
3. There is one more scenario based on wishful thinking and that is a beefy PR comes out by surprise at 9AM or thereabouts tomorrow morning and we get a huge move back up again. The one thing this little line of thinking has going for it is someone or some institution placed some large buy orders around 14.43 yesterday-Tuesday 8/25/20....much like what happened two days before the last PR. Will the same thing happen again??
So there you have my line of thinking all IMHO....At least we are no longer in the sideways channel of hell of the last 4 months...
I will be picking more up if we reach that 1.08 area. As long as the company is still fundamentally strong and I have heard nothing to the contrary and you don't decide to suddenly jump off the roller coaster I think our day in the sun will come...
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