Worldcom under $1!!?? support, resistance

Discussion in 'Trading' started by SilverBullet, Jun 25, 2002.

  1. So what would you suggest the best way is to trade WCOM around a dollar? The support was certainly quite weak there today, and resistance was fairly untested at this price all day. has the following points of interest for WCOM:

    1.26 pivot point 2nd level resistance
    1.08 pivot point 1st level resistance
    .98 pivot point (acted as resistance once under 1$ today)
    .80 pivot point 1st level support
    .70 pivot point 2nd level support

    Sometimes it will tank 5 cents while the futures are ripping, and sometimes for no reason apprently. So I was wondering what you guys thought about playing these points.
  2. I see major, long term support at zero. The stock definitely won't trade below that price.
  3. lol
  4. trdrmac


    Yeah, I've made almost as much this year trading long distance services as I've made trading stock.

    3 checks from att

    airline miles from MCI

    And I almost switched to Sprint, but the dude in the black trench coat showed up and started pestering me, so I told him and that damn hand that shows up when I make hamburger to get lost.:confused:
  5. Rigel


    I call them "bleeders".
    They just keep on going down.