Disclaimer
First post, so this analysis could be wrong and I am still learning as we trade everyday. These are subjective and we tend to see what you want to see. Having cleared that now:
Analysis
1) Descending channel and waiting for a breakout signal. As usual, a surprise in the upcoming earnings could be a catalyst.
2) So? Targets:
I would appreciate your input or to point out something that I may have missed. Or alternatively, that this is just utter bull.
Thanks, take care and good luck trading.
First post, so this analysis could be wrong and I am still learning as we trade everyday. These are subjective and we tend to see what you want to see. Having cleared that now:
Analysis
1) Descending channel and waiting for a breakout signal. As usual, a surprise in the upcoming earnings could be a catalyst.
2) So? Targets:
- In the short term: with some volume, looking at Fib 1. area of 8.47
- If it continues to trade within the channel, then we could be looking at trading the possible top and bottom channels. I do hope it doesn't go any lower, although a bad earnings report could trigger that.
- In the medium-long term: looking for Fib 1.618 area and back to the initial gap down at 9.44. My wishful thinking is for it to close that gap back up to 10. Bearing in mind that it tried to close the gap earlier in September but failed, tread carefully before we start holding bags.
I would appreciate your input or to point out something that I may have missed. Or alternatively, that this is just utter bull.
Thanks, take care and good luck trading.