Friday, October 2, 2009

SVA: Rally To Resistance


From September 29 on SVA:

"SVA rallied off that 7.51 low, so it looks like Data Point #4 is in. The top of the Falling Wedge comes in today at 8.869. The slope of that trendline is 0.1911, so subtract that amount each session to watch for a possible technical breakout, or failure. It will come in on Wednesday, Sept 30, at 8.678."

SVA rallied toward the top of the Falling Wedge on Wednesday, but only made it to 8.62. Yesterday, it took out Wednesday's 8.10 low (Sell Pivot) then followed through to the downside.
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4 comments:

  1. markOctober 6, 2009 at 11:17 AM

    Melf,
    Two days without a post, I hope you are feeling well or perhaps are on a vacation. Be well
    Mark

    ReplyDelete
  2. Melf ElfOctober 7, 2009 at 8:14 AM

    Good Morning, Mark,

    Thanks. Just taking a break.

    ReplyDelete
  3. -October 7, 2009 at 3:36 PM

    if anyone deserves a break, its you

    thank you for all your insight

    ReplyDelete
  4. markOctober 8, 2009 at 9:19 AM

    Melf,
    I was concerned that you might be unwell. Enjoy your time off.

    ReplyDelete