Yeah I was just thinking last night it looks about time to buy back in.
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XRO's SP is like a lot of stocks & is being driven by macro events at the moment.
Positive outcome on the macro front, XRO should bounce back or at least settle.
Continued negative macro outlook, or worse & shares including XRO could go a lot lower than anyone anticipates.
Tell me about it, something must have influenced it today, dropping initially to likely be up at close
Or I could say something like the above and have it drop again....
From my PM to couta1 yesterday:
That XRO depth looks juicy for yesterday's buyers :DQuote:
I'm a little bit weary of XRO just because of global PANIC MODE ACTIVATED.
However, one thing I keep an eye on is the prospect of a good old XRO bounce.
Here's the very simple indicators I am watching:
(1) Mid-long term the SMA 50 is crossing down below the SMA 200. Not good, a strong dose of the DEATH CROSS.
(2) Short term, the slow stochastic seems fairly reliable. When you see the blue line take a nose dive, hit the deck and start heading back up then you really start watching closely. When the blue line crosses up above the red line then historically it goes up for a while. Not huge pickings but a quick shareprice increase never hurt anyone.
(3) In support of this theory, RSI seems to bottom out around 20 and Williams %R seems to cross above -90 on the bounce at roughly the same time.