Both the trendlines (upper bound/lower bound) on weekly as well as on daily charts are providing crucial entry/exit area Stock is bouncing/rebounding from this level perfectly Although my expectation is that the stock will soon break good on the upside based on the assumption that the sector is on the verge of "Bottoming Out" But again its a pure assumption i would rather wait for the stock to tell me what it is doing rather than me telling it what it is about to do There is an indication that the stock is near its 100-dma and 50-ma (523) Close above these levels will give us the strength to break the range Once its broken we will enter a trade
Note
AS RECOMMENDED BEFORE STOCK HAS RUNAWAY WHEN RECOMMENDED THIS STOCK @520 AS EXPECTED IT HAS CROSSED ITS 100-DMA/50-DMA STILL WAIT FOR THE CLOSING ABOVE THE MOVING AVERAGES WILL UPDATE AGAIN
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STOCK HAS FOUND GOOD SUPPORT LEVEL @534 BOUNCED TWICE FROM THERE NOW ONE CAN TRADE OR HOLD POSITION TILL THE UPPER BOUND 555 535 IS ALSO THE 20 DMA !!ENJOY!!
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