Congratulations to reader “KenMora” who was the first to correctly “name that chart” in my last post.
As usual, @StockCats stopped by too, to confirm that the mystery chart was indeed Sotheby’s. He also noted, based on BID‘s very impressive performance you can see on the monthly chart, below:
…it proves the 1% are still near the top of their game.
I agree with that statement.
However, Sotheby’s has punched up through its upper monthly Bollinger Band and is closing in on some major resistance levels.
Recall this video I made all the way back on March 2nd of this year, with the bull thesis for BID. It is tough to be too bullish on it here, with the stock now quite extended and upside apparently limited.
Thank you to all who participated.
Back in a bit with some analysis of the futures, which have gapped lower.
_____________________________________________________________
Chess, can we still call you ‘Sugar’? I like it…
LoL
Man, that’s impressive! How can people guess that so quickly from a blank chart? Magicians! I don’t understand it.