It looks like there is a bullish trend line forming on the point and figure, not to mention the support that seems to be forming around 28/30. I also like the volume; appears to increase on up days and pull back on down. I wouldn't buy right now (it is still going lower), but I would definitely keep my eye on it. Looks like a nice setup for a run to 33 again; and, perhaps a breakout, in time, from there.
Tuesday, September 2, 2008
Bounce, bounce
It looks like there is a bullish trend line forming on the point and figure, not to mention the support that seems to be forming around 28/30. I also like the volume; appears to increase on up days and pull back on down. I wouldn't buy right now (it is still going lower), but I would definitely keep my eye on it. Looks like a nice setup for a run to 33 again; and, perhaps a breakout, in time, from there.
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