ITWO Support Breach
By Johns Wu on Oct 02, 2005
ITWO fell through a crucial support on Friday on high volume. I’m pretty sure the high volume and price action was due to the number of stop loss orders that people set right below the support.
Theres a common saying among traders that "gaps always get filled." So, depending on how things go on Monday, this could be a decent short candidate.
There is some weak support at $16 and some strong support at the $13 gap area.
This entry was posted on Sunday, October 2nd, 2005 at 3:54 pm and is filed under Annotated Analysis.
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How do you know that $16 is a support?