From Monthly prospective, price seems has hit the bottom and there are number of positive indicators for that, but the undisputed point is that The stock is under performing the market over the last 5 trading days when compared to the S&P 500 which is a worrisome. The stock may also signal what is ahead for the market unless it reverses recent weakness. Nothing suggest to go short but if you are long look out a possible break down towards recent low at 107.30s and finally heads a major support at 104/100 zone. The positive side is if price pushes above PP blue line which will take a quick retest recent swing high at and around 116.5 area before it sails to 120/122 a major overhead resistance which only strong ER will break it towards a new all time high the chance looks slim but very likely. The Bearish M pattern remains intact and only will be invalidated if price pushes above 116.50 with strong volume. Real time alerts www.2waytrading.com
