Would you buy or sell based on this chart? Part 2

Would you buy or sell based on this chart? Also try and guess which stock this is.


1 Year Chart

HINT: It's a very high profile stock on Nasdaq with good volume.

Part 1: http://www.elitetrader.com/vb/showthread.php?s=&threadid=281102

 

I will reveal the stock in a few days. If I had named the stock in the OP this thread would probably have gotten lots of replies.

HINT: That big stock movement 3-months ago was earnings related.

 

If I hav mor time will try to find out. I like ur
puzzle. Surprised not mor intrest.

No, I personally would not find a trade in that
chart, but if a gun where held to my head, I would
sell. No evidence down trend is over.

 

I would have to give a call to my insiders first. And why guess what stock it is?

 

Why?

 

1) There's no supply or demand levels listed, so I can't make a buy / sell decision

and

2) After an extended move down like that I'd never buy that knife. I'd wait for buying pressure, and a re-test of the low


3) Move looks a tad exhausted in that final leg.



My vote is: neither buy nor sell. I would wait.

 

I only provided a chart to eliminate all noise. Knowing the ticker would greatly influence the replies. Since this is a high profile stock on Nasdaq and ET I thought it would be a good exercise to also guess the stock.

I will post the ticker soon, you will be surprised.

 

I stated in the OP, "It's a very high profile stock on Nasdaq with good volume". There is no shortage of supply or demand in the stock or the options.

 

Incomplete data for many reasons.

 

Neither nor

However as we are still in decline i could try to
Short a rejection ie. Another lower high

But then again it doesent Look like a sell Off
Ie it seems like the selling pressure isnt that
Big (after the drop)


More like a price Discovery to the downside, but then only
Buy if there are clear signs of strength returning

Till then , shorting each LH is the plan