is it a buy qbe down to bottom support 32 , page-6

if you look at price history - it went up to 33.90 intraday high just b4 the correction on 27th of feb

then from the 27th feb till the 14th march it fell in a downtrend to all the way from 33.90 to 30.20 close on the 14th of march.

it bottomed at 30.20 on the 14/3 but quickly came back up the next day 15/3 to close at $31

then between the 15/3 and the 26/3 it traded upwards again when new confidence was restored into the market and traded all the way up from $31 to break $32

so after the correction it went down to 30.20 and then rebounded back up to break $32, but it went up and rebounded back TOO QUICK in my books in this space of time.

So $32.63 was as high as it got on the 26/3

It went too high too fast so it reached an apex at this point and profit-taking came into place. It was hence sold back down on the 27/3 and went below 32 to finish at 31.85. This meant it would get sold back down to support technically at 31.00 over the next few days which it did (31.05 on 2/4)

Which brings us to this phase where it traded all the way from 31.05 to 32.90 high.

I dunnno, I HOPE that we stay between 32-33 range, but if the market gets sold off now and corrects a little down , who knows???

All I can go by is that pre-correction we were at $33 range

then the correction hit, which meant it would gert sold sdwn hard

then it came back to 32-33 range momentarily but got sold back down to test 31 b4 it settled in the 32-33 range

now its in the 32-33, which I think is where we should be given that the correction is over and that it came back up to test the $32+ range.

because it corrected too fast, it went back down to re-test 31-32 range (but quickly bouced from there in 2 days back to $32+!!!)

this suggests that markert believes it should stay in the early $32 dollar to $33 dollar resistence trading range

Now dollar is weighing on stock, but if that werent the case we'd be back into the $33 range to retest highs

It can fall below $32, but I think that the market believes it belongs in the 32-33 range for now.

No point going back to re-test 31, cause we were already there on the 2/4 and it lasted 2 days before we went back into 32-33 range (the fact that it was only there for 2 days , shows the bullishness and market belief that 32-33 is where it should be)

So if theres no massive blue-chip sell-offs, I think this range should hold

If there is a selloff in the next few days Im hoping that 32 holds (otherwise if theres a massive blue-chip selloff it may go back and touch 32.63 b4 bouncing back in2 the 32-33 and beyond)

Huntleys reckons its intrinsic value is $40.30