Okay here's an interesting point....
When a stock or index is bouncing off a low, if it is turned back down by the 1/4 mark of the range down, that holds the downtrend in a strong position.
So yesterday's low was $27.85 which was $5.31 below the 7 Jan high ($33.16). 1/4 of $5.31 is $1.33 which when added to yesterday's low price gives the 1/4 mark as $29.18.
Today's high was 8 cents off and it turned down.
That holds the move down off the high in a strong position.
I'm staying short.
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Open | High | Low | Value | Volume |
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1 | 77 | 38.780 |
2 | 523 | 38.770 |
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4 | 26213 | 38.750 |
Price($) | Vol. | No. |
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