Decision Zone In QLGC

QLogic is facing a major
decision zone from 45 to 50. Follow the confluence:

1)
Symmetry: previous rally of
significance was 4.7 pts. This rally is at 4.9 pts.

2)
Fib Zone: Large fib price resistance
zone from 45-48.25.

3)
Regression Channel: Top of this 2 std
dev. Regression channel

4)
Moving averages: the 50 and 200 day
sma is running through this price zone

5)
Candlestick: Friday QLGC printed a
doji candlestick at this resistance zone

Based on this information I’m
focused on looking for shorts here. For now my trigger is below Friday’s low
with a stop above the zone around 48.30ish.

Have a great day!

Derrik Hobbs