I may be a bit biased since I am long and have been for a while but $8.40 sounds way too low considering the fundamentals have improved tremendously the last few quarters and also since there are several other levels that could act as support. 1. The 200 SMA which it is currently testing, 2. $20.81 which acted as support and resistance on the weekly and 3. 16.50ish where we saw a double bottom. Unless the entire tech sector goes to hell I don't see $8.40 happening.
rottnpicks
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@Master_of_Fine_Charts, looks like you summed it up in your last sentence, Now let's just hope we have a buy zone here where he marked it.
Master_of_Fine_Charts
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@rottnpicks, he made a good call. I didnt anticipate the correction to be so broad and so intense. I remain bullish long term with VERI and will add incrementally.
rottnpicks
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@Master_of_Fine_Charts, I'm a student of his style, I started my position but I'm not loving the wave formation. Rigo has not been around lately so I'll be watching this closely. A move off his green fib would have been better so we gotta see that 89 retrace level hold up, his lower end zone.
christianschneevoigt
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Thx a lot for all riggo, i learn alle the time u post.
JAD77
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Chart seems still very valid, still holding with same targets?