Hi Johno, gtreat posts here & thumbs up for me on WOW .... I have been battling with wow since I started charting ... u asked for some f/back sooo my observations are:
-love your H&S call ... cannot believe I missed that ...so a well done from me .. my (limited) experience is that the h&s is very powerful at predicting reversals ... seems to be ignored by lots one here (I found it amazingly accurate for predicting major reversals of shares through last March and then at predicting ho high they would go) ... using the h&s to project low price gives about $18 ... could it get there??
-interestingly my (pre pichfork infatuation LOL) analysis differed from yours in that I had the major d/t defined by dec 07, nov 08 and feb 09 highs ... forming a type of symmetrical triangle (pennant, i think they call it) which was broken bullisly in mid 09 ... this ut halted oxt 09 and she has been solidly in a d/t since ... so out of all that the only thing I would slightly disagree on from your post is "The largest trend is down (which the most important)" ... for the last few years the trend is "all over the shop"
& lastly .... whacking some pichforks on the chart reveals: -an ascending trend that accurately defined trend 2000 -2007 ... price moved north of this in 07 & early 08 and has traded again within this ascending p/f since then .. interestingly it is nearly at the bottom tine of this p/f as we assess ... it has been in a steeply descending p/f since oct 09.
- if it braks that l/t lower tine imo that is very bearish for the share & could indicate that teh current d/t is being honoured
interesting observation: the s/p broke above the upper tine of my l/t p/f by approx $7 ... if it shortly breaks the lower tine (at about $25) signalling bearish trend continues could it do it by $7?? .... $25-7 = $18 ... now that is a coincidence?????? samme price as our H&S above.
