there is a very big chance it wont drop to that level, but normally after a day 10 high test and a monthly 50% failure i would be looking for prices to retest their 3 day lows and thats where it is.
I also know that a 2 day consolidation above the weekly range break (17.82) that the 3rd day will send it higher with next target at 19.08.
basically thats why,
i was actually trying to pick up NAB in the low 31.70's today and just missed it, but tomorrow becomes a different matter that i might have to pay a higher price, but dpending on the open NAB might be headed back to its recent low of 31.00.
I bascially adjust my positions each day if i want to get into something and i don't mind paying a higher price if i have to.
cheers.
SPI Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
