Replies to post #11536 on China MediaExpress Holdings, Inc. (fka CCME)

[~6979~]

~CCME~...What to expect Tomorrow...

...There are two scenarios for tomorrow...

1)We have another Gap up and continue upwards...that is an excellent scenario and perfect for the shorter term traders...
...This scenario is highly likely, especially since we have the most viewed stock on IBD today...as well as a mention in todays IBD Daily Wrap up (link below)...and finally, I expect ~CCME~ to get front page mention in tomorrows IBD Newspaper...All of these factors can contribute to a gap & run scenario...

http://www.investors.com/MediaCenter/default.aspx?mediaID=561101


2)The second scenario and the scenario that will benefit the longer term holders is this...(chart below) ...In this scenario,we have a small retracement to either Retracement 1 or 2 highlighted on the chart... ...We should welcome this retracement because it accomplishes a lot of things...One of those things is to give fresh money a chance to enter (like a lot of IBD'ers and Institutions that are praying for an opportunity to get in on the first minor dip)...The second reason that we would want a retracement, is because it gives ~CCME~ a chance to once again show its strength...Remember, the strongest price action that a stock can project is a gap down followed by a powerful rally that closes at the high of the day...This would be perfect for us because it could prolong the length of our Breakout...(all of my Retracement Targets are based on the Fibonacci Clusters that I've Highlighted in red rectangles & arrows on the chart)


Note 1: No matter which scenario plays out, Ive added some very specific upside price targets on the chart for tomorrow...the next minor retracements should be expected at one of these 3 targets...25.85...25.35...24.81...

Note 2: The average rise of a stock coming out of a cup with a Handle Breakout is 25%...That would put ~CCME~ around $28...
...BUT...~CCME~ should have an above average breakout duration because of the record close and record volume... ...Further, the potential of more shorts covering at higher prices could add even more length to this run...I dont think that any technician can honestly give an accurate price target because of the short variable, which is why I am giving my absolute minimum Target of $30...do not be suprised if ~CCME~ ends up going a lot higher...





...Remember, all of this is my Technical opinion and please feel free to give your own projected analysis if you feel that it will help or if you can explain what I am trying to say in simpler terms...thank you...glta