A convincing red day, cant always be sunshine and rainbows, one...

A convincing red day, cant always be sunshine and rainbows, one of the highest volumes we have seen as of late with a few line wipes in the wrong direction. Signals possible downside to come in the short term.
Someone definitely wanted to get out today and that could be for a range of possible reasons.
- In the profit (as most are) and wanted to sell/reduce risk.
- Lined wiped 28/28.5/29 and the lack of follow through saw him exit the position
- Knows a raise might be on the cards (speculation from me here).

From a technical standpoint we are no longer considered overbought and are currently participating in a healthy pullback. RSI is now dropping, the last few bottoms in the RSI have been around the 50 mark, however I think we might not see that level due to the fundamentals and countdown to next month. (28 business days for those keeping track)

An educated estimate would see us start to shape up on the daily timeframe over the next week or two and a small breakout as we approach closer to announcement date.

I think we will sit somewhere between 30-33c on the days leading up and gap up (or down) on the news significantly.
Im looking for adds in the 25.5c to 26c range on this pullback and the gut feeling is this might be the last chance I get.

Also, if you are disappointed in todays move, Id like to point out this stock is still up 25% in the last two weeks, sitting on a perfect trend since october last year (recently breaking out of trend further to the upside.)
I would still very much call this sunshine and rainbows.

DYOR,

Jake D