Originally Posted by
JohnnyTheHorse
This is completely expected price behavior. What I'm looking for from a trading perspective is this to top out around the current price, then pull back towards the previous lows, but set a higher low and form a tightening range within that.
Any talk of a long term trend change is ridiculous. Even if we do get a weekly trend change (which at a minimum takes weeks to play out), we would still just be looking for a monthly lower high (i.e. still in monthly downtrend). With current fundamental state of the company I will not be buying a weekly trend change (if it eventually happens) as the risk of a gap down open on another downgrade or bad news is just too high.