POG - down 30%

POG is down 30% today... I am not sure how low it will go....

But, this fall seems over done now.

May be as master remo mentioned, 85p next target?

ta
G

This share has been breaking down at all supports. Then it re-test them then falls back down.
So if this test 155 and reverses then it could go down to 85.
Id personally avoid this until a 123 low formation .

Im no master young Paitech

ha ha ha.. remo , I neither young... ... 36yrs already...an old git..
Have a nice evening.

ta
G

Hi Remo, whats your view on POG?
An updated chat and thoughts would be much appreciated.

Thanks
G

Hi paitech
The only time id feel comfortable with pog is once the short term down trend line is breached.This is currently at 190. Then id also look for a clear 123 low. We did get a small 123 low but it for me was not clear enough. There was only 1 point difference between the low and number 2 point.
SO id look for a retrace from current run then see if it can break above latter,by this point it may be testing the trend line if were lucky.
The 123 method wont get you in early but helps to put the odds in your favor rather than catching a falling knife. So once it breaks out of a 123 low formation my stops would be below the 2 point so risk is controlled.

support...130.5,,113,,80
resistance...186.6(gap),,190,,225

This is back at the steep short term downtrend today have so far failed to make a 123-low from the bounce up to 163.84. Could this trigger a drop to the 123p level which was support in late 2002 or is it going back to 80p?:



dl.dropboxusercontent.com/u/20815047/POGdaily10_05_13.gif