The pullback continues, but the mission remains the same; the fundamentals remain the same. This is nothing more than an opportunity to load up more shares. Reminder: 7.7B market cap. Last quarter revenue: 772 million... This is a stock you hold when you can get it at these prices.
I am expecting the local bottom to form at $11.30ish as there is a nice volume shelf there. I have buys set at 12.35 and 11.40, which should give me an average buy in price of around $11.80, considering my other buys.
Technical analysis:
We failed to pass the $15 supply zone. We're simply heading down to $11.30, grabbing liquidity and will reattempt to breach $15. I am eyeing the 38.2 retrace fib for a bounce. I think price will respect those trend lines, even though it's rudimentary, I find success with this sort of method and I'm sticking with it.
Disclaimer: this is not financial advice.
I am expecting the local bottom to form at $11.30ish as there is a nice volume shelf there. I have buys set at 12.35 and 11.40, which should give me an average buy in price of around $11.80, considering my other buys.
Technical analysis:
We failed to pass the $15 supply zone. We're simply heading down to $11.30, grabbing liquidity and will reattempt to breach $15. I am eyeing the 38.2 retrace fib for a bounce. I think price will respect those trend lines, even though it's rudimentary, I find success with this sort of method and I'm sticking with it.
Disclaimer: this is not financial advice.