I see trend and fib colliding, so is this the bottom for now? I believe there is a good chance this could be it, especially with the downward speed we've seen.
@aeroarunn, That's a bit simplistic for evaluating the company, don't you think? besides, this idea is nearly two years old. :)
aeroarunn
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@nDam, well, let's see what you're up to :D
and how many Fibo's were right when it comes to a weekly chart on Stocks?? ;) ;)
nDam
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@aeroarunn, I don't understand what you're implying; my comment was about your oversimplified way of determining fundamentals in this firm, based on ONLY a new contract with Amazon in the UK, when this isn't just a UK based company. Using it as an indication about the strength of the organization because Amazon chooses to do business with the company, is another and more legit way of interpreting your statement.
As to fib. it has it time and place if you decide that to be a framework for a trade, or a basis for entry in companies you choose based on fundamentals. :)
aeroarunn
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@nDam, yeah, I get that. I way oversimplified because it's for the first quarter and i couldn't add indicators for some reason. But it's not about your elementary knowledge of charts my friend, the retracements you showing are from 2009, if you're taking a 52 week high, it's acceptable. Besides an account of pandemic is not considered in your analysis. it's always about the company's CURRENT performance & profits. And, for your kind advice, consider a quarter before you go for a 11 year slot :D Moreover, you showing RSI below the threshold (Jan 2019) which is like the company is about to shut it doors :P and it's strange that you didn't say anything about it. Future is unpredictable so we wait my friend. It could go even low, who knows. But I appreciate you took time to do something. I'm not arguing with you, but your chart expertise is awesome. Keep up the good work!.