The falling knife - returning to the point of control

Carsales has endured the same fate as many tech stocks in October and like the degenerates we are, we're here looking to catch a falling knife.

The stock traded in a nice channel for a full year before breaking down. Take note of the point of control where most volume has taken place in this time period, if this was an overreaction we have a target to get back to the point of control, if not a stop at 9% just below the next low volume node.





This is not financial advice, I am not a financial adviser. Trade at your own risk.