QH : Possible dip to 1.91 or so early next week.
February 24, 2011 Leave a comment
The number 2 is QH’s lucky number. A weekly or worse still a monthly close below 2 would not be a good sign, and would place 1.91 then 1.77-1.80 as first and second support.
The counter has been good for a technical rebound trade from 2 or so many times over the past 18 months, but we fear this time luck will desert, and the counter will dip to at best 1.91 early next week.
Obviously there is some chance the market makers will make sure it holds north of 2, so its time to monitor closely for signs of the MM’s intentions.