$Powell Industries (POWL.US)$ well the continual slam happen...
$Powell Industries(POWL.US$ well the continual slam happened again this morning. we've now wiped out the entire bubble going back to almost the beginning of May at this point. technically there is no support in here it would go to about 141 that's where you see the next moving average for short-term support however I don't think it's going to reach that level I think 158 159 157 somewhere is in there it's going to garnish accumulation again.
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35+ yrs in the trenches, raised tens of millions for start ups, syndicate ipo's, yrs on trading desk mkt maker.
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10baggerbamm OP : so you can see technically we're in no man's land however there was some support for about a week and a half early this month right around 156 157 158 right where we are now but you can also see the lower Bollinger band at 141 and that's where we may go so my suggestion... from a trade standpoint is I would buy no more than half of the position at this point in here and if we do fall to 141 you need to average your position down average your cost basis down. if we do get a reversal in here you'll get some return on your investment a nice little profit if it rotates down to 141 where the real technical line of support is you'll be able to bring your cost basis to about what 149 right in that point
104238715 : it has dropped to 141 indeed. where is this going next?
10baggerbamm OP 104238715 : I think you can begin to nibble right around the price I mean it's up a couple of bucks today that don't go crazy. but let's suppose in the dollar amounts of relevant but let's suppose you wanted to buy 200 shares I think you can buy 100 shares in here. if Monday Tuesday Wednesday next week we get a pullback of $3-4. I think you could just buy your other hundred shares a couple of bucks lower and just average out your price. the market goes in a rotational pattern and they're going to rotate back to pal you know I would have to say within the next week or so going to begin to see further accumulation coming into the stock. it can move big dollars very quickly because it's a higher price stock so it can have it dollar $9 day the end of next week the beginning of the following week but I think you need to look for the full next cycle which will put it 170ish. if you're really patient you're going to need to hold through the next quarter earnings and keep your fingers crossed that they exceed all the matrix they exceed earnings revenues and guidance and if that's the case I think you could see you know right around 200 again but you know you have to be patient to get to that level and you're going to have to hold it through the earning cycle. if there's any weakness whatever games you had would be wiped out you know so you have to factor that in also either with selling half your position to lock in some profits or selling a call against it collecting some premium willing to lose a little upside as a hedge
104238715 10baggerbamm OP : thank you sir. I will digest your words.
104238715 10baggerbamm OP : by the way, where you see is the next level of support if 141 breaks?
10baggerbamm OP 104238715 : it would be on a weekly basis it would be 121.74
104238715 10baggerbamm OP : keeps testing 141. I think good chance it is going to your next support level at 121 soon
104238715 104238715 : is this a breakout?
104238715 10baggerbamm OP : breakout now?
10baggerbamm OP 104238715 : if you look Nvidia is rallying , chip stocks, GE is rallying so a lot of the tech stocks that took a pause literally half hour ago there's a big buy program that's kicking in and everything is going up lock step how long it runs I don't know
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