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X Master

05/07/22 8:53 PM

#467644 RE: Judge Smails 40 #467641

Judge, all hell is going to break out on Tuesday. Like you said it is a unique circumstance. At this point you are a believer or not. If you are a believer, more than likely you will not sell no matter what happens.
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dennisdave

05/09/22 6:17 AM

#468109 RE: Judge Smails 40 #467641

a stock price overextended as this could snap back if the anticipated reason why it expended in this manner does not fit the expectation of the market.
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Sojourner55

05/09/22 12:01 PM

#468368 RE: Judge Smails 40 #467641

Judge, if you look at stocks that spiked on good news, there were many that looked way overbought on the chart prior to news. When we are looking at a binary event, sometimes the TA underestimates what the stock would do based on traditional expectations of the indicators. The monthly as per your observation is just starting to BO and has hit the top rail of a multiyear trendline so I believe there is more to come in the coming months. Volatility will be crazy in the days ahead as traders pile in together with shorts covering and longs cashing in so its going to be a free for all. For me, the advice is to keep a cool head while everyone is losing theirs applies here.

This chart shows that the low of the day is barely touching the BB band and itching to break higher without first pulling in as is normally the case after an extended run.