Seems the initial valuation was off, eh? Way off. Well, we're at the 50% discount point now. That's right, it's a blue light special. As you can see we have support via three methods - conventional support at the lows of prior waves, a descending wedge, and it's at the S1 support line of the Pivot points. So I am taking a flyer here. Mostly because I am short every other damn thing at the moment other than RIO, VOD, and V(isa). I like those. Hate everything else. Including the major indexes.
With that being said, if this thing continues to fall below the support lines get the hell out because it can't withstand the macroeconomic headwinds the Fed is threatening us with. Like everything else at the moment, it would seem.
With that being said, if this thing continues to fall below the support lines get the hell out because it can't withstand the macroeconomic headwinds the Fed is threatening us with. Like everything else at the moment, it would seem.