come back Hoop--Your take would be really beneficial (your message box is full)
There talking about ''Sheep''--you know its bad when they start talking about sheep.:ohmy:
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come back Hoop--Your take would be really beneficial (your message box is full)
There talking about ''Sheep''--you know its bad when they start talking about sheep.:ohmy:
Technically you're correct imho, today's close is pretty much on the Nov 11 2015 daily spike down (which recovered that day to close $2.65). Today however didn't recover.
The SP has fallen aggressively to and through the typically acknowledged 50EMA and 200MA supports, but yesterday also through the 'death average' 400MA. I call it that because on a longer term basis I look for 200MA/400MA cross overs, the double death cross, or double golden cross. Sort of a last ditch (got it wrong) get out signal, or get in as the case may be. However that crossover isn't going to happen any time soon.
So assuming the $2.56 support holds tomorrow, it's likely to be because more buyer support wading into what is perceived to be a low SP compared to stellar fundamentals, like the chatter here for the past few days (surely it can't go lower, I'm buying this down trend). Phaedrus would weep, or actually he would probably be scolding.
On the other hand, if that $2.55 Nov 11 support fails, $2.415 (modest support) and $2.35 (major support) lies beneath here.
EDIT: Should have mentioned that on a closing-price basis, the Nov 11 $2.65 support has been breached, yesterday. Today technically is a follow on down.
Indicators are suggesting a late stage of the current decline entering oversold territory, though they can't predict tomorrow's sentiment. Soon enough those sellers who have enjoyed and have been taking super profits from the multi month run-up from Sept 2015 will dry up, perhaps presenting superior buying opportunity.
That assumes no unexpected external or internal new factors rattles AIR's cage. Sure is a volatile share price, I'd be heaving into the sick bag if this was an actual flight.
You called? Speaking of sheep, perhaps some of them have pointy teeth and just wear a sheep suit to fool the punters into buying into their sellers dream down trend, avoiding capital losses themselves, scooping up the profits on the way down and buying the hapless at the turn around. Smart money has been exiting AIR, surely that's obvious, they're not buying it (apologies to recent buyers, no offence intended, I know you genuinely see an opportunity and you could well be right, tomorrow). I think it's a broadly false assumption that the sheeple are selling, usually it's the other way around. And vice versa.
Classic.
A nice head and shoulders (bearish) has completed. An eyeball measured target looks to be around 2.15, but there will be support at that old resistance at 2.25 imo.
dyor on h&s
Hey Baa, I do speak with some authority on Sheep, I shore the buggers for nearly seven years, I still reckon there's a lot of panic selling going on here but that's just my opinion and I've learnt the hard way that you don't panic sell fundamentally solid companies unless your a sheep.:cool:
You have to ask 'what's changed from three weeks ago?'. Still a good company, still earning well, and in this macro-environment, where else do you put your money?
Somewhat rapid descent & lots of nervous chatter from the passengers.
I hear the oxygen masks have deployed and there will be an engine count later.
Fly them, don't buy them.
Best Wishes
Paper Tiger