MTM Chart, page-2233

Have we made the low at 17 of this phase?
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From a weekly perspective, another drop this week from 19.5 to 19. A touch of 26.5 high and 19 on the down.
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So what is happening? From a weekly perspective, as I wrote last week - Its playing weak. This is 5th week in a row that it has gone down. From 28.5 to 26, then 22, then 21.5, then 19.5 and now 19. Many times lower highs and lower lows. So technically its playing with weakness. Fundamentally, many still feel its good. But not supported by price for now. But something has changed this week, a slightly different play.
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So what changed this week? Many may say, nothing. We continued to drop on weekly basis, 5th straight week of going down. But something looks like changing in last 2 days of trading. I wrote on Thursday why I felt we may have done the low at 17, so will not repeat it. Trading on Friday, played to that theory. That 17 could be low of this phase. I have been watching trading for over a month. I could see a switch, a small one. No confirmation yet. But odds are not bad. I am holding, maybe biased, so please dyor.
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Personally I had some more play this week, as I wrote on Thursday, I was waiting for play around that level, based on pattern. So had traded a few earlier. Bought back those. My average last week was 22, now its 20.5. As I have written before, I like to trade, I probably may buy or sell some even on daily basis. I am still down for now, but hoping, reaching a good level. What is mean good level, is if things go wrong and have to take a hair cut, then lower average can help a lot in making a decision to exit. If we are winning, 20.5 to 22 or 25 or even 30, does not matter.
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So what may happen next week? General markets on Friday went into a toss. SP 500 had a big drop. Suddenly punters are scared about economy. Any big drop in general market, may affect as well. We may get some news next week, around design, or some partnership etc. So anything positive around that will help. Also, last 2 days of trading, odds of us going higher now seems to be more than going lower. No certainity, but possible. Will that happen? Lets hope so. All the best.