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6 COMMENTS

  1. Tl;Dr why the fuck is it down 4% today

  2. BYE_HI_SELL_LOW

    It has been dropping because it has an insane P/E ratio. Even a good earnings report won’t help unless they announce something else to pump the stock.

  3. Moist_Lunch_5075

    Personally, I would look for confirmation either on the breakout from the trendline since earnings, or a break from the bottom off the $65 before buying. Looking at the 1y chart, we still have a downtrend trading solidly below the EMA8, which is confirmed on the 1 month chart, which is probably a better measure of the post-earnings trend than the 5y chart is. We have a downward stochastic harmonic matching that downward trend, including a lack of bottom verification. RSI14 does look oversold, so I see that, but that was also true on the 1 month chart on Sept 13th, which did yield a 4 point increase over the next week, at which point it consolidated down further. Zooming out to the 1 year this still looks like it might be in a correction wave.

    On the RSI and MACD crossover, this thing could burn off the oversold state over the next week and maybe make up a few points, but I’d wait for a series of higher highs or a rebounding double bottom indicating a strong support level before predicting a return to the $85-90 range. I thought it’d bounce right after the earnings drop but I think sentiment on the stock may be down, and that’s keeping it from going back up… I think the technical correction has to complete before it’ll fully break trend.

    Also, this traded down against the market rally when almost everything else went up over the previous two days… I’m kinda bearish seeing that. Definitely waiting for confirmation.

  4. Man I hope it blows next week. I bought calls on this an $Z today

  5. Wedge lol. Its in a god damn free fall but you tell yourself its a wedge

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