Pretty basic approach here, less clear than my usual bullish/bearish wedge patterns.
COHR is a profitable company with a good track record. Missed earnings last quarter, got punished hard. Coincided around the same time the overall market was in a downturn. Price dipped more than two standard deviations below the 100 day moving average. I don't think the bearishness is justified, so I caught the knife.
There appears to be some consolidation happening at the current price level. There's potential for a reversal of this drop, but I don't see any indication either way. I trust that the company is a good one, and hope that the market will reflect that in the future.
COHR is a profitable company with a good track record. Missed earnings last quarter, got punished hard. Coincided around the same time the overall market was in a downturn. Price dipped more than two standard deviations below the 100 day moving average. I don't think the bearishness is justified, so I caught the knife.
There appears to be some consolidation happening at the current price level. There's potential for a reversal of this drop, but I don't see any indication either way. I trust that the company is a good one, and hope that the market will reflect that in the future.
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There's a bearish wedge in the short term chart; might be a buying opportunity coming up.
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Oops, pretty sure that's an ascending triangle continuation pattern. Lost out on 1% trying to catch another knife, long again.
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Dipping hard on lowish volume following news of selling from investment firms. Not out yet, watching the price action.
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