Why I Was Watching This Setup Closely
If a level or zone is
pierced by price action especially early in the day, I will often look to see if
a ‘recross’ can trigger out of an intraday pattern for potential entries.
08:55:44
Ahead Of The Curve
FindWhat.com (FWHT)
is trading off by more than 1.75 at approximately 17.65 points in the premarket,
after releasing its earnings report. Today’s low have fractionally pierced a
zone of technical support for the issue between 17.30 – 18.03. This area is
comprised of two Fibonacci levels, the 200-Day EMA, and both price and pivot low
supports based on daily chart analysis.
Oh well, this one didn’t work as FindWhat.com
couldn’t find a bid—but I’ll still take preparation over reparation any day of
the week.