Short countertrend on the weekly chart
But a lot of room to test the 200 day moving average (which it did Sept 2012 to Mar 2013)
The daily chart (not shown) is confirming a moving avg crossover into a short term downtrend. If the weekly follows there is either another $45.71 move (see above) and or re-test of the 200 day moving average. Notice the Bollinger Bands opening up out of a narrow consolidation and MACD going negative.
I am managing some OCT 120 Puts.
The daily chart (not shown) is confirming a moving avg crossover into a short term downtrend. If the weekly follows there is either another $45.71 move (see above) and or re-test of the 200 day moving average. Notice the Bollinger Bands opening up out of a narrow consolidation and MACD going negative.
I am managing some OCT 120 Puts.
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