This is a new idea but relates to my earlier idea. Patience! I have drawn a a classic harmonic AB=CD pattern. I quote ( paraphrase ) from Carney's book, "....it's hard to make yourself believe the stock will reverse because the sell off has been dramatic and the stock appears weak....but you must sell at D...not believing this initially cost me a lot of money"
So in addition to the pattern, you have Connors RSI approaching 10 level again. At this level you have bullish candle sticks - hammer, engulfing, and yesterday a doji. The director just bought some stock, not much, hey. And they just announced the Google thing. And then there is the Elliot Wave Count, which doesn't break any rules and meets many of the guidlelines for wave formation. Finally, this is an area of support that has held since the summer of 2015.
So everyone says it's going down, but all signs point up. This is the time to buy, and sadly when most people sell and get out. Am I talking myself into staying in this trade? Perhaps, but my strategy is clipping along at 83% success, and one thing I know is - you must EXECUTE if your system says to. can't listen to the hand wringers and stock twits. If you're wrong, you are wrong, can't win em all.
Look, for at least a move to the C point - the 61.8 fib level 7$. We could see $9 - the 1.618 level and a target for a wave III move.
So in addition to the pattern, you have Connors RSI approaching 10 level again. At this level you have bullish candle sticks - hammer, engulfing, and yesterday a doji. The director just bought some stock, not much, hey. And they just announced the Google thing. And then there is the Elliot Wave Count, which doesn't break any rules and meets many of the guidlelines for wave formation. Finally, this is an area of support that has held since the summer of 2015.
So everyone says it's going down, but all signs point up. This is the time to buy, and sadly when most people sell and get out. Am I talking myself into staying in this trade? Perhaps, but my strategy is clipping along at 83% success, and one thing I know is - you must EXECUTE if your system says to. can't listen to the hand wringers and stock twits. If you're wrong, you are wrong, can't win em all.
Look, for at least a move to the C point - the 61.8 fib level 7$. We could see $9 - the 1.618 level and a target for a wave III move.
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Ok folks..... a lot of interest here. People be like '''...how low can it go....such a bad stock....VG down...down...down..." Here's the bottom line FIVE MORE CENTS.
BUY at $5.79.....This is the EXACT AB=CD point and guess what? This is within a few points of the 1.618 extension, and also is occurring near a level of support summer of 2106. If we get a close below this level then it very well not be over, and it could go to 5.35, ( 1.27 x AB ) and the low created by the hammer back in August of 2016.
That's the technical bottom line.
Does Google partner with slouch? Why is the director buying? Why are the big boys and pundits saying this is such a bad stock?
BUY at $5.79.....This is the EXACT AB=CD point and guess what? This is within a few points of the 1.618 extension, and also is occurring near a level of support summer of 2106. If we get a close below this level then it very well not be over, and it could go to 5.35, ( 1.27 x AB ) and the low created by the hammer back in August of 2016.
That's the technical bottom line.
Does Google partner with slouch? Why is the director buying? Why are the big boys and pundits saying this is such a bad stock?
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Still room to the upside. Up 7% since last update. Here is a screen shot of 1h charts showing a pretty good Elliot count.
Looks like we are gettig ready to complete the 5th wave up of the samller impulse. That's a take porfits signal for the weak men. ;-)
Target $6.40 and take somemoff the table if you still doubt, Probably 6.60 maybe even 7 before weeks end.
Looks like we are gettig ready to complete the 5th wave up of the samller impulse. That's a take porfits signal for the weak men. ;-)
Target $6.40 and take somemoff the table if you still doubt, Probably 6.60 maybe even 7 before weeks end.
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It has made $6.52, which converges with the 38.2 fib retracement ( blue line) on 1d. May keep going, but you can't feel bad about taking some profits now. If you stay, no worries, it will pull back to complete corrective wave 4, and then push back up to complete wave 5 of the larger impulse. OR it could just keep going and extend wave 3 a bit more!
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Sorry for lax update. Closed it out for 4% on my postion, now we have finished the correction are are heading back up.
Long at 6.35
Long at 6.35
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VG keeps going despite the whining of people who say it is a lousy stock. Just added more.
