re: next week show and tell pete chat
trader_10...
The weekly chart may well be bought undone in the first few seconds of trading on Monday!
A higher open will effectively kill the shooting star pattern.
There are many examples of false shooting star sell signals...especially in stocks of high volatility such as CQT is right now.
In actual fact, the lower close was perfect...the lower the close (with support) the more likely of a higher open, effectivley killing the weekly shooting star scenario.
My guess...even if we get a soft open, and even if it falls early in the day, we will see a bounce once again, further strengthening the the 36.5c support line.
The rally I predicted was possible for the afternoon session on friday is still pent up in this stock...it may be released slowly, or it could well explode.
Lets see what transpires.
Cheers!
CQT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
