Originally Posted by
Baa_Baa
Another confounding week for the bulls as XRO gapped open lower on Monday and found merciful support just under $16.75, then back-tested $18 and failed, found support at $16.75 again and closed the week at a miserable $17.05.
The big story all week was whether the 2013 Oct big buyers would fold some or all of their ex-escrow holdings. But nothing happened to suggest that one way or the other. In the background Rod gets plenty of media airtime and once again tells his shareholders to keep calm, everythings going great and it will all be just fine.
With a bounce in the NAS/DOW last Friday US time providing some modicum of direction, XRO will likely rally Monday looking to retest $18 possibly $19 during the week, esp if the US tech markets follow though with some upside. Alternatively there is little price support on the chart below here until $15.
Some will sense a growing anticipation of the opportunity to be buying this sustained price weakness. However there's nothing in the chart that would suggest this price is the bottom.