Hello, regarding AYR I don't see 12 resistance, short term
support is around the 50 day MA and 11.69.
Here's Steve's old chart, it hit his target support area.
There is a downtrend line, perhaps put a short above that.
Otherwise the short played out earlier for a quick trade.
For now I could see it going either way here, it's simply
consolidating, perhaps the pattern needs to mature more. But
if you wanted to short it the trendline is an objective stop or
above the 12.36 previous pivot high
Hello, regarding AYR I don't
matt
Posted by matt on 28th of Mar 2011 at 03:16 pm
Hello, regarding AYR I don't see 12 resistance, short term support is around the 50 day MA and 11.69.
Here's Steve's old chart, it hit his target support area. There is a downtrend line, perhaps put a short above that. Otherwise the short played out earlier for a quick trade. For now I could see it going either way here, it's simply consolidating, perhaps the pattern needs to mature more. But if you wanted to short it the trendline is an objective stop or above the 12.36 previous pivot high
AYR chart