XING: 3 Targets In The 6's Got MADE

(Click On Chart To Enlarge)

"Currently, there are THREE positive divergences in the MACD. Price has made "lower lows." The MACD has made "higher highs." As we discussed earlier this week, positive divergences in indicators are meaningless unless price moves higher. If XING fails to put in a Double Bottom here, it will be at new 18-month lows and the downside targets in the 6's (or lower) that have been IN PLAY since the end of October, 2007 likely will get MADE. XING needs to look sharp and get moving to the upside here."

XING failed to capitalize on the bullish divergences in the technicals and closed last Friday at an 18-month low. The three downside targets in the 6's listed at the upper right of the chart that have been IN PLAY beginning with the October 31 close below the Symmetrical Triangle (pattern in blue) got MADE very quickly at yesterday's open.