I got a bit of time now before the missus gets here so ill do STO now.
I had a chart from last weekend with the 210 day cycle on STO and the turn date in October, now please keep in mind this is only MY opinion and MY thoughts. I NEVER short STO so please don't think that either :)
This was my longer term view and i am quite bearish but again its just my thoughts im happy to not hold much at the moment and just day trade :)
STO has come down 25 days from the top, quite a repetitive time frame for some of the swing moves down and i believe on a shorter time frame i even used to use 25 days as a cycle. Anyway here is the chart of the 3 day swings which are a LONGER time frame swing chart. The 1 day swings don't look to bad as they have made a higher low and now making highs, would maybe expect them to come down and make another higher low on the channel support before making another move up to where i think it might fail?
The next chart shows the fib levels of the move down and to the area where i think will be some resistance and the start of an ABC corrective move down might occur. First res at 38.2 which is at $13.50 or up into the $13.80 area anywhere in here i would be worried if it looks to break out of the 'bear flag' as i would expect that to be the lower top on a 3 day swing chart and might look to take an entry here (i would likely zoom in to a 1 day chart and see if that has confirmed lower tops and bottoms for a move down)
I will be watching closely and always thinking of the bigger picture which i think will maybe come down to this long term trend line before bouncing and breaking that down trend line and completing the range up to $18. If it is anywhere near that coming into the turn date i think it would be an excellent buy but gotta wait for that now.
Hope this isnt to bearish and more than likely i will be wrong, but just been practicing trying to map things out a bit better :)
Will enjoy seeing others views as always :)
