Lesson For Tonight
Posted on December 27th, 2007 by minhthumbs in General
Pull up a 3 day, one minute chart for CTDC. You can use a service like StockCharts.com. Use the drawing tool to draw an uptrend line from the low at the beginning of day 2, and continue to draw a straight line that touches the low points similar to this chart
Day one is just to show the previous base before the initial gap up open on day 2.
Watch tomorrow how the stock appears to have an obligation to come down and touch that line. I predict it will bounce if it goes that low.
Mr. minhthumbs
Did anyone do their homework?
The stock came down to the downtrend line and bounced just like I predicted. Almost to the penny.
The stock is strong as of 10:30 est.
mr. minhthumbs