Wednesday, August 19, 2015

[$COMPX] update

Backlink.  Model from that link is below.



Comparably cropped current snapshot is below.  Either the red or blue paths are still well within the realm of possibility.  The "prime" (i.x. X vs X') designation is always my alternate or secondary count.  The herd is really having issues staying above lower support right now.




IMO the reason that we have not seen real panic yet is because the buy-the-dippers are hoping for 4' and 5' instead of 4 and 5.  This would lead to a new lower support rail as shown in red.  If the chart falls below the green line, 4' and 5'are off the table as likely paths.  Shorts need to pay close attention to that new red line.  If $COMPX kisses but cannot break it down soon then it will form an inclining double bottom and lend more weight to the  4' and 5' route.


No comments:

Twitter Delicious Facebook Digg Stumbleupon Favorites More