Hubert Senters here.
Let’s take a look at Pergo, PRGO as it gap down situation today. Not looking good for this one. There’s a lot of things that are actually — we’re getting a little bit of divergence here. Some things that are not going down on the market is going down and some things even when the market is sideways or slightly up are dropping like flies so be careful on what is in your portfolio.
And if you won’t be safe to just trade an index and leave it alone don’t worry about it. If you’re doing the speculation, the speculation game what we’re doing and we’re trading either intra-day or swing trading will get to place bets. That’s how this game works.
So in this situation you can see back here in earlier in the year. We had a nice little sell signal below the cloud and it has been hard pressed to get above the cloud. It’s done it one, two, three times this year. And every time looks like it’s met with more selling so let’s see where this thing can potentially go to.
You can see there’s a little bit of support right there. It cleanly broke through them so I’m going to take a look at a longer time frame on a weekly esthetically, that’s not going to be good so it’s broken that cleanly so the next drop down is potentially going to be down here to $37.81.
And then it could even potentially go as low as $20.61 cents. Now, I don’t think it’s going to get the $21.60 21 or $20.16. I think it’s got a real shot of going into $37.81 so short that bad boy or get some options on it.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
