for the chartists, page-57

Hi CEB

Yes the forks were a bit of fun. They were Totters tool of choice but he no longer posts on HC. I didn't use them to trade but it is always interesting to watch how price react's to them. Trying to catch a trend reversal with a fork you really need to see price fall back to test the lower tine as confirmation.


I haven't followed this one since the run up but had a look at the chart this morning. Following on from your weekly I think you picked it with the gap fill. There are a couple of other support levels in the low 30's and there is regression to the trend. Timing suggests a potential low this week (yeah, no kidding) but I would prefer to see something 4 - 6 weeks out. All this suggest is a bounce here but it's what happens after the bounce that matters. Just my opinion.

This isn't a general market correction but a stock specific sell so I wouldn't expect a V bottom. No point discussing any lower support in deference to those still holding. Give it time for things to settle.

Just my thoughts, take them with a grain of salt. I won't be trading this one. Good luck if you choose to have a crack at it.