Hi FolksDespite recent news the weekly chart is still showing...

Hi Folks

Despite recent news the weekly chart is still showing weakness. I am a LTH first in at the single digit level and am confident in the long term future of the company, however I just have read the charts as they are presented.

Three weeks ago the weekly hi-lo candle traded entirely below the 10WMA. A bearish signal. For a number of weeks the 10WMA was flat in its pattern, but now is starting to fall. Bearish. If the 10WMA crosses below the 40WMA in the coming weeks it will add to the bearish signals.

On my chart I show two FIB's a larger one and a smaller one, if we fall below 0.76 then both FIB's seem to be heading towards a target zone that I have put on the chart. A serious announcement could prevent this , however I found many times of the folly of waiting for these can be gut wrenching.

So overall I am short term bearish.

Just the way I deal with the markets so that I am not surprised by what plays out. I am not trading into this decline as I got in way way earlier.

As always DYOR.

cheers Lies