The Big Boys, page-434

Thanks Jako. I've traded WOW in the past but not quite tradable for me at the moment with the direction for the next few months not certain enough. I agree with your comments. We're at a good support level. $24 is also 61.8% of the All Time High and it's positive that the price on the monthly dropped well below that level and closed above. So a little run up here is quite possible, and probable. A run back up to about $29 in that previous significant range would make a lot of sense. But it's in a longer term downtrend and I suspect a lot further down to go (although I haven't done enough work recently on it).

So I think we're really talking about a counter-trend back up, which could be short-lived or could go on for a significant move, but should eventually fail and resume down. Just a bit too risky for me to trade here either direction but certainly interesting to watch. If it does respect that previous range between about $24 and $29 then it might become a good short opportunity at the top of that range in a few months time.