My prediction for CBS in the next 6 months.
Currently, in an Ascending Triangle pattern that is very very short term it will gravitate to $56 a share in time for next earnings release. The market will go down into the new year so itll stay around $52 but from Jan to Feb it will go up to $56. If the news is great...it will shoot higher and break the long term downward trend that it is in and probably head up into the high 50s and head back down. If it goes past theres no ceiling.
I think the results will be okay at whats expected or worse however. If this is the case...look for it to continue its downward trend and head from $56 down to $44 over the course of 2015. A zealous prediction it is ...but I've been following this stock for a long time and how it moves. I think that 44 is the bottom.
the 52 week high and HEAD = $68.
The neckline was $56
the head minus neckline = $12
12 dollars below the neckline is $44. If you look at the picture...i didnt put in numbers but it looks like the lower end of that channel...the next support level of the pattern will be around $44 dollars as well.
All of this shyt is meaningless...but nonetheless
I've been calling for this shyt to hit $44 for months now. It was close when it hit 48 but now i know why it didnt go any lower...
I was right with LVS hitting $55 depsite all the bounces it did to the mid 60s. I was right about VRX heading down...and then even back up. Knew that Dean Foods was undervalued and even WFM. I have been right about the SPY quite a bit lately.
Dont know if I posted it here but I said it'd hit 208-210 to finish the year and when it did I told my homie itll go down to 201-200 before Jan. 1. Let's see if I can call this one too
. I'm ready to head back in the game for 2015 regardless