XING: Responses To "Good News"

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From my October 30th post, "Responses To Dutton's Calls:"

"The ONLY thing about the fundamentals that is important to me, is the market's RESPONSE to them. Earnings. Upgrades and Downgrades. News items.

Will Dutton's "Speculative" Strong Buy reiteration of October 29 at least get XING rallying back to 11.50 resistance, which is the bottom of the 11.50-11.97 "neutral zone?" Will the reiteration help XING get back inside that neutral zone? Will it help XING get back above 12.00?
That's what I'll be watching for . The market's RESPONSE to the reiteration."

On October 31, XING closed below DOUBLE support: (1) the yellow up trendline off the 10.08 low, which was a VALIDATED trendline (see Yellow #5); and, (2) the white trendline, which was horizontal support in the low 10/80s.

November 2, there was news about the sale of stock, at 11.80, to a big buyer. What was the market's RESPONSE to that "good news?" A "Bull Trap" rally to resistance, at White #1, then a drop to 10.00.

At the beginning of this week, the market anticipated the Dutton Report, and again rallied XING to resistance, at White #2. When the Dutton Report came out on November 6, the market's RESPONSE to the report was to rally XING to White #3, for a VALIDATION of that trendline as resistance, and to rally XING again on Wednesday morning, to White #4 for a SECOND VALIDATION of that trendline as resistance.

Remember now, we knew on October 31 that XING had broken below DOUBLE SUPPORT, ahead of "good news" on the fundamentals, on November 2 and November 6. Sometimes the fundamentals are good enough to trump the technicals, but in these two cases, the technicals not only are trumping the fundamentals, the technicals have given us two confirmations of that fact by validating resistance TWICE, at White #3 and White #4.

In order for XING to stop being bearish, it needs to take out that white trendline (White #1 through White #4), which would put the stock in a neutral zone, below next resistance at 11.35 (the October 30 failed attempt to get to 11.50 resistance), and then resistance at 11.50-11.97 (the "old neutral zone").